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It is rumored that three real estate enterprises, namely, China Shipping, Vanke and China Resources, were rejected by Shanghai Local Auction to apply for participation in the auction due to the bidding event in 2020. Investors from several real estate enterprises confirmed this news to the reporter of International Financial News.

With the first round of centralized land supply in hot cities such as Guangzhou, Beijing, Hangzhou and Shenzhen coming to an end, the focus of the industry has also turned to Shanghai, which is about to start.

As the city with the first land transfer fee in 2020, Shanghai has always been the key layout of real estate enterprises. However, just as real estate enterprises were raising funds to prepare for the centralized land supply, it was reported that three leading real estate enterprises were not eligible for this land auction.

Recently, it was rumored in the market that three real estate enterprises, namely, Zhonghai, Vanke and China Resources, were refused to register for the auction by Shanghai Local Auction due to the bidding event in 2020.

Investors from several real estate enterprises confirmed this news to the reporter of International Financial News. A top 10 real estate enterprise said that the news heard earlier was true, and I don't know whether there will be any changes in the future. The investment and development personnel of large-scale real estate enterprises said frankly, "The situation of the three companies mentioned above is not a secret in the investment and development circle of Shanghai, and the industry basically knows it." Xiao Yunxiang, research director of Tongce Research Institute, believes that if the situation is true, the move is not only a punishment for the three companies who illegally auctioned land last year, but also a warning to the industry.

The landmark event took place in April last year. At that time, the rumored punishment result was that three companies' deposits were confiscated, Vanke could not take land in Shanghai for two years, and China Resources and China Shipping could not take land in Shanghai for three years.

In fact, after the accident, the three companies, China Resources and Vanke, rarely appeared in the Shanghai public market.

After April last year, China Resources Land did not gain anything in the Shanghai public market. Vanke tied up CSCEC and deeply participated in the old renovation of Baoshan Yanghang. After the auction in January, the Vanke consortium successively won the old renovation project of Yanghang's urban village in April, May and September at the bottom price. The replenishment of China Shipping also comes from the old renovation. At the end of July, China Shipping announced the development and construction of five plots of land for the historical style protection and urban renewal project of 67-71 blocks of Jianguo East Road in Huangpu District, with an estimated total investment of about 59 billion yuan, which is also the largest investment project in its development history. It is worth noting that the acquisition period of the old renovation project is long in the early stage, so although the above projects were determined last year, they have a high probability of being incubated in advance.

The reporter of the International Finance News learned that after the bid event, the above real estate enterprises once communicated with other peers about land acquisition through cooperation. Some top 10 real estate enterprises said, "They hope to acquire land in our name. The two sides have talked about it before, but they didn't reach an agreement in the end." Some model real estate enterprise investors were more cautious about this cooperation, In his opinion, there is no shortage of partners in Shanghai's projects. "After land acquisition, equity cooperation, development and construction application, application for pre certification, completion and delivery and a series of other parties will still be found, so there is no need to take this risk".

As active customers in Shanghai market, China Shipping, Vanke and China Resources have all performed well in Shanghai market in the past year. Kerui data shows that in 2020, China Resources Land's full caliber sales and equity sales of 17.442 billion yuan and 7.863 billion yuan respectively ranked 10th and 13th in the Shanghai market. Compared with China Resources Land, CNOOC and Vanke have more significant advantages in the Shanghai market. Vanke, which has been in the top three of the Shanghai market for many years, will continue to win the list with 35.547 billion yuan of full caliber sales in 2020. In the amount of equity, Vanke ranks second with 20.064 billion yuan of sales, only second to CNOOC's 22.76 billion yuan.

This is also the best performance of China Shipping since it entered the Shanghai market in 1992. Throughout the year, China Shipping has launched projects such as China Shipping Zhenrufu, China Shipping Huidelhi, and China Shipping Jiufengli Jingyuan. In the last month, China Shipping Jianguoli and Changning jointly launched the second round, directly increasing the equity sales of 10.332 billion yuan, surpassing Vanke and topping the list.

If there is no centralized land supply for a period of time in the future, can the existing soil reserves of the three companies support their development in the next stage?

The annual report shows that Vanke can develop 12 projects in 2021, including Xuhui Vanke Center, Anting New Town Project, Sky City, Zhongxing Road Project, Shanghai Tianji, two plots of Shanghai Qibao Business District, Siji Metropolis, Qingteng Park, Shanghai Xiaofenglai, Shanghai Huacao Project, etc. The total planned completed area in 2021 is 1.15 million square meters, calculated by combining the equity of a single project, The equity completed area is 716700 square meters.

At the beginning of last year, CNOOC acquired three plots of land in Putuo Hongqi Village, together with the old renovation project in Huangpu District. According to the annual report, its total soil reserve in Shanghai was 1.64 million square meters. Although this amount will not make China Shipping face the dilemma of making bricks without straw, it will not be easy to continue the glory of the first in 2020. In the previous centralized land supply in Beijing, CNOOC signed up for 18 plots of land and finally got nothing. The plight of Beijing and Shanghai, or let the chairman of the board of directors Yan Jianguo "focus on the first tier and core second tier cities" strategy will face landing challenges in the above two places.

Compared with Vanke and CNOOC, CR's "surplus" in the Shanghai market is even more stretched. According to the annual report, there is only one Jing'an Mansion project among its main properties in Shanghai, and the unsold saleable area of the project is 233100 square meters, of which 50% is China Resources equity, and the saleable area of equity is less than 120000 square meters.

The pressure on the local reserves in the Shanghai market has also led China Resources Land to madly cover positions in other markets recently. According to incomplete statistics, in the past two months, China Resources Land has successively won 10 pieces of land in Beijing, Guangzhou, Hangzhou, Nanjing, Xi'an, Shenyang, Changchun, Wuxi, Foshan and other cities, with a total land price of 41.121 billion yuan. The premium rate is up to 226%, and the general premium rate is more than 20%.

41.121 billion yuan also made China Resources rank second only to Rongchuang in the first batch of centralized land supply data counted by the Chinese Academy of Sciences.

Xiao Yunxiang said frankly that if he could not acquire land in Shanghai within three years, the three companies mentioned above would indeed be nervous about their current soil reserves, but they were not helpless. The three companies could still obtain soil reserves through old reconstruction, land secondary market and other channels.

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