Franshion Real Estate Gamble whether to follow the feeling to go

Times weekly reporter Zhao Cho in order to 4.06 billion won Guang Qu Road 15th queen, originally always don't know what is the taste of lack of money franshion real estate, the debt rate rose significantly to 50%.　　Even more surprising, an insider said, "The project is profitable, not even the boss of the Chinese party hing know."　　For this high-end product positioning and development, Fang Hing Real estate is clearly not ready. Along the Kwong Wan Road eastbound to Baiziwan Bridge, a huge forest and grassland quietly lying in the noisy east of the four ring, this is the name of a temporary 15th Canton Canal Rd.　　The land of wall is surrounded by the billboard of the Creative exhibition, and there is no movement in the No. 15th of Kwong Nullah Road, but only the word "government reserve Land" is written outside the wall of a person's height, and only one security guard is walking around the wall. Franshion Property An insider told The Times weekly reporter, the project planning total investment is estimated to be 1.2 billion yuan, is now carrying out environmental impact assessment, through the evaluation can be formally established.　　The formal construction is expected to be in the second half of next year.　　Can be profitable, even the boss is not a number of Kwong Qu Road 15th, can be built with land 119056 square meters, the total floor area of 280118 square meters, and some of the land used for low-rent housing construction. The franshion announced the interim financial statements on September 8, with a $4.06 billion win over the Queen of Kwong Nullah Road 15th.　　Striking is, the first half, Fang Hing Real estate net profit 434 million yuan, tumbled 61.1%, the first half of the property development gross margin, from last year's 66% fell to 36%. High-priced land to franshion real estate debt rate increased significantly.　　Franshion Real Estate chief financial Officer Jiangnan said the net debt ratio is expected to rise to 50% per cent due to the payment of the 4 billion yuan in Beijing's No. 15th Canton Canal Road. With the state-owned enterprises, an old real estate development agency planning director of the Times weekly reporter expressed concern: 4.06 billion yuan sky-high, 1.2 billion yuan of the cost of construction, has not yet issued a specific project planning, there is no clear project positioning, so that Fang Hing Real estate after the stock price does not rise.　　Despite the deep pockets of the parent company, as an independent listed company, the debt rate continues to rise, will still bring some pressure on its operations. The above said that the state-owned enterprises should be less fighting for the king, to do more affordable housing development work. Such a high cost also let the Fang Hing real estate people feel pressure. Said Fang Hing Real estate Insiders told The Times weekly Reporter: "This project is profitable, even the boss do not know."　　"Project positioning has not done well housing and urban and rural Ministry of Construction Policy Research Center deputy director Wang Lin does not seem to worry about this in the profit of the party hing," not because of expensive, said others may lose money, the key to see how the project development. Wang Lin cited an example: "Before I studied in Yiwu, there is a land price of the floor is 25,000 yuan/square meters." I asked the boss, how can you make money if you take so much cost? He said that the bottom four floors are all commercial, can sell to 50,000-60,000 yuan/square meters, above is the residential, so still have to earn."Guo Yi is more worried about the ability of Fang Xing real estate to control the high-end property market," said the marketing director. She told The Times weekly reporter, compared with private enterprises, the central enterprise has a more relaxed financing environment and low-cost financing costs, in April or May this year, Fang Hing Real Estate successively from the Bank of China Beijing Branch and ICBC Shanghai Branch respectively to obtain 20 billion yuan and 4.5 billion yuan of the credit line. In addition, the two land kings of Kwong Wan Road directly promoted the surrounding house prices, the first City International Centre near 15th Kwong Qu Road and the Jubilee Price rose more in a straight line.　　Therefore, the project's profit forecast is worth watching. "So large plots, Fang Hing Real estate can be gradually developed by stages to wait for land premium." But the key is that Fang Hing property to the high-end property control ability. Guo Yi said that the development of 30,000-40,000 yuan/square meters of high-end properties, the real estate market needs to have many years of experience accumulation.　　Market demand, product design, space construction, all need professional and accumulation, finally can be accepted by the market. For this high-end product positioning and development, Fang Hing Real estate is clearly not ready. "Perhaps it will be done, only to foreigners, perhaps developers living in dual-use projects, or only development of residential, is not yet confirmed." Said Fang Hing property.