Daily dose of HK & mainland China Real Estate Research Focus and Views on the News

Research evidence excerpt

Daily dose of HK & mainland China Real Estate Research Focus and Views on the News

and Yuhang districts. The Xiaoshan plot has a site

area of 59,000 sqm and a reserve price of RMB1.1bn. The auctions are scheduled for 16 June.

Foshan completes its first new-home transaction under the trade-in scheme

Guandian: On 17 May, Denghu Yueyuan (城发·灯湖悦园) in Foshan’s Qiandenghu area,

developed by a local SOE, completed a transaction under the city’s home trade-in scheme

proposed by the local MOHURD on 20 April, making it the first new-home project to close a deal

under the scheme. According to the scheme, eligible buyers can sell their existing homes (built

after 1 January 2000) to eligible participating developers and purchase new homes developed by

the same developer. Developers may refurbish and resell the acquired units, and the government

may buy back qualifying units for use as affordable housing or corporate rental housing.

CR Land lists the Chengdu Mixc mall with a reserve price of RMB7.5bn

Guandian: On 21 May, CR Land officially listed the equity interest in its Chengdu subsidiary for

sale with a reserve price of RMB7.5bn. The subsidiary is the developer and the operator of the

Chengdu Mixc Mall. The subsidiary reported 2024 revenue of RMB957m and a net profit of

RMB246m. For 2M26, it reported revenue of RMB166m and a net profit of RMB59m.

40 s s M K R L ’s M s p j

Guandian: CMSK and CR Land’s Marivista project in Shenzhen’s Bao’an district launched a

second batch of units for sale on 23 May and all units were sold out on the launch date. The

batch comprised 40 units sized at 198/257 sqm, with a plot ratio of 3.4x. On 26 April, the project

launched its first batch of 222 units, achieving a 95% sell-through rate. Sales of its first launch