To revitalize the problem real estate and promote the "guaranteed handover", Zhengzhou, the capital city of the central province, may take the lead in breaking the ice.
On July 27, a reporter from the Beijing News learned that Zhengzhou plans to launch four major models of shed reform, unified loan and repayment, mergers and acquisitions, bankruptcy and reorganization, and guaranteed housing leasing. The six major real estate companies have chosen to connect the above four modes for the problem real estates under the real estate companies, and promote the work of "guaranteing the delivery of buildings".
Six pilot housing companies
On the evening of July 26, a screenshot of the document "Report on the Voluntary Exit of Projects by Top Housing Enterprises in Our City" was circulated on the Internet.
The content shows that the Zhengzhou Municipal Housing Management Bureau held a meeting to report on the "voluntary withdrawal of the project by leading housing companies", and for the projects of key companies such as Jianye, Xinyuan, Kangqiao, Shimao, Greenland, Sunac, etc. Exit methods such as unification, mergers and acquisitions, bankruptcy and reorganization, and guaranteed housing leasing.
On July 27, a reporter from the Beijing News got in touch with the General Office of the Zhengzhou Municipal People's Government. The staff said, "This matter should contact the Zhengzhou Housing Security and Real Estate Administration." Then, the reporter called the Zhengzhou Housing Security and Real Estate Administration ( Referred to as "Zhengzhou Housing Management Bureau") official website of many external calls, the staff said that they have not seen the red-headed document on the matter, and the specific situation is not clear.
The reporter learned from people familiar with the matter that the Zhengzhou Municipal Government organized the Zhengzhou Housing Management Bureau and the district governments to hold a meeting on "Reporting on the Projects of 6 Key Enterprises in Zhengzhou". "Related Models and Suggestions on the Development of a Virtuous Cycle of Real Estate", the Zhengzhou Municipal Housing Administration announced the selection model of 6 key enterprise projects (shed reform, unified loan and repayment, mergers and acquisitions, bankruptcy and reorganization, and affordable rental housing model) at the meeting. The municipal government and the district governments will make relevant reports.
The screenshot of the above document is a screenshot of the material titled "Report on the Exit of Key Real Estate Enterprises in the City" by the Zhengzhou Municipal Housing Administration Bureau.
It is reported that the six key real estate companies are Jianye Real Estate, Kangqiao Group, Xinyuan Real Estate, Shimao Group, Greenland Group and Sunac China.
Among them, the top three real estate companies Jianye Real Estate, Kangqiao Group and Xinyuan Real Estate are local real estate companies in Zhengzhou; while Shimao Group, Greenland Group and Sunac China all have multiple project layouts in Zhengzhou.
According to the above-mentioned "Related Models and Suggestions on the Virtuous Circular Development of Real Estate in Zhengzhou", under the current background, Zhengzhou's bailouts for housing companies and projects are aimed at "stabilizing the economic market, activating effective demand, and realizing the healthy and healthy development of the city's real estate. It is necessary to mobilize the resources of state-owned enterprises, central enterprises and various financial institutions, through the acquisition of apartment houses for talents, unified loan and repayment, mergers and acquisitions, bankruptcy and reorganization, etc., to distinguish problem projects and problem companies, and implement 'guaranteed housing delivery'."
Innovation "Four Models"
The four innovative models proposed by Zhengzhou this time include shed reform, unified loan and repayment, mergers and acquisitions, bankruptcy and reorganization, and affordable rental housing.
Among them, the model of "unified loan and unified repayment of shantytown reform" is accepted by the government platform company, and the government will take the lead in the later stage; if the assets are greater than the liabilities, the "merger and acquisition" model can be selected, and the government will organize the connection between state-owned enterprises and financial institutions to solve the cash flow problem of enterprises; For those who are insolvent, the “bankruptcy and reorganization” model can be adopted, and the government organizes bankruptcy and reorganization to ensure the delivery of the project; if the sales are not smooth and the construction funds are difficult, the “guaranteed rental housing” model can be selected, and the government organizes special construction loans.
The much-discussed "unified loan and repayment for shantytown reform" refers to taking advantage of the policy opportunity of the national shantytown reform to package the resettlement house as a shantytown reform project, and the main body of its construction is changed from a developer to a government platform company. At the same time, it uses the municipal platform As the main body of unified loan and repayment, it has established joint venture companies with various counties and urban areas, and the municipal on-lending platform will carry out on-lending to the joint venture companies.
In the opinion of industry insiders, if the practice of "uniform loan and repayment in shed reform" is implemented, it will greatly ease the current financial pressure of housing enterprises.
According to the "Related Models and Suggestions for the Virtuous Cycle of Real Estate Development in Zhengzhou", in the period of rapid urbanization in Zhengzhou, the main urban area generally adopts the "Ankai Bi" (that is, bundling the construction area of the resettlement plot with its corresponding development plot buildings). area ratio) construction mode, that is, the commercial development mode in which the developer is the main body of the resettlement housing construction, and a reasonable area is given at the same time.
The logic of the original project has not changed. Due to the tightening of policies, the payment collection for commercial development has slowed down, making it difficult for resettlement housing and commercial development projects to be advanced at the same time.
In order to solve the resettlement of the demolished masses, actively study the transformation of the developer-led "Ankaibi" model into a government-led model.
In the affordable rental housing model, Zhengzhou is also considering the purchase of apartments or existing residential houses as a way of talent apartments.
After the major development companies have taken stock of the existing buildings, for projects with a relatively high deconsolidation cycle, they can actively use the repurchase affordable rental housing model to recover cash flow.
Yan Yuejin, research director of the Think Tank Center of E-House Research Institute, commented: "The solutions in Zhengzhou have a positive effect on the ideas of solving problems in Zhengzhou and industry. It should be said that different coping strategies have been implemented for different real estate projects, which are more pragmatic and can also break through one by one, which will help to better resolve conflicts, and it is also of great inspiring significance for related real estate companies.”
Enterprise response: will not withdraw from the Zhengzhou market
After the Zhengzhou version of the bailout model spread on the Internet, there were also questions about whether real estate companies would withdraw from the project.
In this regard, some representatives of real estate companies responded: "It is mainly because the statement 'the voluntary withdrawal of real estate companies' has caused misunderstandings.
According to a reporter from the Beijing News, taking Sunac as an example, there are currently 10 real estate projects in Zhengzhou, all of which are actively self-rescue, with the goal of "guaranteeing funds", "resuming work" and "guaranteeing delivery", and based on project layout and Due to its own conditions, it may consider introducing a partner in the later stage, but there is no plan to sell or withdraw the project.
As for which project to choose which model, some pilot housing companies said: "The materials are still being reported and have not been determined."
The above-mentioned person familiar with the matter said: "In fact, the original intention of the document is that the government plans to help the top high-quality real estate companies in Zheng to solve the current difficulties, and give priority to the 6 leading real estate companies. It is a good opportunity to solve the current temporary predicament and ensure delivery. The first six companies are the leading real estate companies that have been deeply involved in Zhengzhou for a long time, and there will be no problem of withdrawing from the Zhengzhou market.”
Beijing News reporter Xu Qian Zhang Jian