A new round of real estate investment feast is staged around

Yan Yin Chan by reporter from Chongqing

With the deepening of economic globalization, the logistics industries of all countries in the world are accelerating development. With the rapid development of e-commerce, a new round of investment in real estate logistics is also being staged in various parts of China. Since 2011, the traditional logistics giants, e-commerce and traditional housing prices, have cast a heavy note in the field of logistics and real estate. With the increasingly fierce competition in the logistics industry, the entire industry is also actively exploring various new business models. Tomorrow, who will become the new darling of investors in the field of logistics? Tomorrow, we will face a new era of logistics?

A new round of real estate investment feast is staged around.

According to the rough statistics of the Daily Economic News reporter, traditional logistics giants represented by GLP Group and ProLogis Group as well as the electricity supplier represented by Jingdong Mall and Alibaba Group since 2011 and the traditional houses represented by South China City Enterprises, both in Chengdu, Chongqing and other western cities in the real estate logistics cast a heavy note. Among them, only Chongqing logistics real estate market has attracted hundreds of billions of capital on various roads.

Insiders pointed out that behind the capital fanatical distribution logistics real estate, booming e-commerce to stimulate warehouse prices steadily higher, China's per capita modern logistics and warehousing is low, and the industrial real estate itself is less liquid, relatively long period Features play a pushing hand role.

Traditional realtors get together beachhead

In August 2010, the Bannan District government in Chongqing decided to set aside 6.2 billion yuan to build the largest highway logistics base in the western part of the country in the town of Penang.

In March of this year, the project of South China City in Chongqing, which has signed a contract with the base, officially started its construction with a total construction area of ​​13.5 million square meters and a total investment of more than 20 billion yuan. After completion of the project, it will integrate functions such as commerce and trade, distribution of logistics, display and promotion, information exchange, innovation promotion, industry cultivation, special tourism and urbanization comprehensive support, etc., and will also cover display and trade area, commercial parks and parks in Central Park and supporting facilities District and logistics storage area and other four major functional blocks.

Daily Economic News reporter saw at the scene, if the speed of 40 yards to move forward, to take over the city of Chongqing, South China City, the straight line takes about 2 minutes or so, due to the larger area, Chongqing South China City has also deliberately built a Observation deck.

However, without the huge billboards, observation deck and several diggers put on both sides of the road, few people may have put this piece of land which is still covered with weeds and "large-scale integrated commerce and logistics and Commodity Trading Center "linked together.

In fact, in addition to South China City, ProLogis and other bases have their own plots.

As early as February 2011, the ProLogis (Chongqing) City Logistics and Distribution Center, with an investment of 680 million yuan, signed the contract. According to the plan, after the project is put into production, the tax may be turned over to 35 million yuan. "At present, the first phase of the project has been completed, is about to start the second phase of construction." Chongqing Highway Logistics base, a staff member said.

In Chongqing, there are two new rivers and lakes areas in Chongqing, where there is an important function of trade and logistics as an important function of the region. At present, Ambow, Italy Vailong and Australia Goodman Group have all invested in the construction of the logistics park in the area. Last year, Chongqing Western Logistics The total investment of the park is as high as 111.7 billion yuan.

In addition, traditional residential developers such as Greenland Group, Wantong Holding, Hopson Development and Vanke Real Estate have been similarly active in the field of logistics and real estate in recent years.

E-commerce giants have layout

In fact, Chongqing is only a microcosm of capitalist fanaticism in the realm of logistics.

According to GLP's China official website, it owns and manages 148 comprehensive parks in 34 cities in China. Huang Wei, the general manager of Goodman Group in China, also said publicly that Goodman China's logistics fund has grown from 150 million U.S. dollars four years ago To 1.5 billion U.S. dollars. Its total area under construction in key cities such as Shanghai, Tianjin, Chengdu and Chongqing is about 800,000 square meters.

Daily Economic News reporter found in the survey, in addition to ProLogis, Goodman Group and other logistics giants, the traditional real estate developers and e-commerce is the other two backbone of this feast.

According to iResearch forecasts, in 2017 the scale of China's online retail sales will reach 4.1 trillion yuan, in the increasingly heated competition in the electricity supplier trend, grab the logistics "last mile" is a consensus.

Public information, Alibaba plans to use 8 to 10 years, relying on rookie network to create a daily average of 30 billion yuan circulation to support the scale of the "China smart logistics backbone network," the total investment of up to 300 billion yuan, of which logistics Real estate is the bulk. According to a rough statistics of reporters, at present, Jingdong Mall in the country since the purchase of land has been about 200 acres of land, excellence, Dangdang Dengjun different levels of distribution in the logistics of real estate.

In October 2013, Jingdong Group also said it will invest 2 billion to 3 billion yuan to build "Jingdong E-commerce Industrial Park" covering an area of ​​1000 mu in the above road logistics base. However, it is worth noting that the original plan was no later than this year The first phase of the project started still no movement.

"The explosive growth of e-commerce in recent years, and the corresponding shortage of the corresponding base of logistics and warehousing, e-commerce has a greater advantage of self-built logistics base." E-commerce experts Lu said.

"From the perspective of the current business development of the housing enterprises, the profit margins of the traditional residential industry are narrowing, and the logistics and other industries still have a lot of market space at present." Huang Hui, director of Industrial Real Estate Department of West China Branch of Jones Lang LaSalle, told the "Daily Economy News "reporter.

In the opinion of many insiders, the fundamental reason why logistics real estate has been favored by the capital stems from the tight supply and demand in the market.

"At present, the total stock of international standard warehouses in China is 13 million square meters, which is only equivalent to the level of a city in Boston in the United States, and there are still problems of uneven distribution." According to Stuart Yi, director of China Industry Ministry at Jones Lang LaSalle, Beijing , Guangzhou, Jinan and other cities warehousing prices have risen, while supply and demand in some areas have been imbalanced.

"This tight supply and demand in the market has become the outbreak of the development of logistics real estate, the next 3 to 5 years, the logistics real estate will continue double-digit growth." Chongqing Real Estate Market Manager Wang Bo said.

Land property embarrassment

Journalists from the Daily Economic News found that under the potential market demand, many local governments have started the strategy of building a trade and logistics center and given more favorable policies on investment promotion.

Public information shows that in early 2013, Chongqing released the Opinions of Chongqing Municipal People's Government on Accelerating the Construction of Trade and Logistics Center in the Upper Yangtze River and planned to build Chongqing into a convention and exhibition capital, shopping capital and food of the upper reaches of the Yangtze River in 5 years Both and Western International Logistics Center.

Under the above "Opinion" framework, the circulation enterprises construct the distribution center for the purchase of machinery and equipment and construction of information systems, according to not more than 50% of the investment amount given to financial discount; for commercial logistics enterprises in line with the policy of western development, according to 15% Of the corporate tax rate of income tax.

According to Chongqing Banan District government sources, Chongqing Banan Road logistics base to attract Jingdong settled in, they provided free of charge for two office buildings, Jingdong only pay property costs.

In addition, in addition to preferential tax policies, rent relief, businesses pay the cost of taking place is relatively low.

Reporter through the land bidding auction website found that South China City in this year's March 12 and May 12 were competing Bannan South Peng functional area group A standard partition A4-1 / 01, A6-4 / 01, A8 Lot No. 1/01 374553 sq.m. of land for construction, NanPeng Functional Zone Group A Zone A2-1 / 01, A6-3 / 01, A8-1 / 01 Parcels 290720 sq.m. of land for construction purposes.

Although the above two attributes of land are not consistent, the former is planned for industrial use and the latter is for land storage and warehousing. However, the floor premium of both land parcels is 150 yuan / sq m.

It is noteworthy that the floor price of a Type II industrial land auctioned by Chongqing Road Transport Group in the block on May 12 this year was RMB 1,095 / sq m; Chongqing CIMC Ruipeng Logistics Co., Ltd. in April 2013 The floor price of an industrial land auctioned was 450 yuan / sq m; the floor price of a piece of logistics warehousing land bid by Chongqing Punan Warehousing Service Co., Ltd. in January 2013 was also 327 yuan / sq m, both higher than that of South China City Take the land cost.

"Logistics real estate is different from commercial real estate, and its marketization is very weak. It can be said that the government has put forward a piece of land. However, it is not the one who can win more money but the government plays a bigger role in this process," Huang said.

In addition, many interviewed industry insiders also said that despite the logistics market with the market base, but for the crazy involvement of capital, its ability to open a victory is still unknown.

"First of all, leasing is a big challenge, logistics real estate is a kind of operation, how to control equipment wear and tear, to achieve efficient operation within a controlled cost is a big challenge." Jones Lang LaSalle Beijing Industrial Real Estate Director Luo Qiang Qiang said, Operating logistics real estate in the site selection, take, development, leasing and operations and other aspects are facing the test, not just throw money to repair the house.