Layout long-term cash flow insurance funds intensively into the land industry

Liu Zhensheng Insurance Funds in the recent performance of the industry is impressive. December 23, the reporter learned from the Chengdu rural Property exchange, China Life Insurance Co., Ltd. Sichuan branch has become the city of Tianfu Road North Section No. No. 966 Park, 5th Building Income bag, the transaction price of 646.2 million yuan.　　"It is not clear that the specific relocation plan," said a person in Sichuan branch of Guo Shou. On December 22, Beijing's 6-piece land in the parcel was revealed to buyers. In the insurance portfolio, the union of the State Property insurance and the standard investment group has won the Z5 block with 2.52 billion yuan, the planning area is 120,000 square meters, and the floor price is 21,000 yuan.　　In the previous bid, there are taikang life, Sunshine Insurance Group, life insurance and other risk funds appear in it. This is only since the end of July, insurance funds to buy land, the epitome of buying a flat.　　Reporter according to the public data rough statistics, there are 8 of insurance funds into the housing market case, especially in China Ping ' an, Chou, the State property insurance most positive. "The investment channels for insurance funds are too narrow, and it is understandable that many companies have poured into the new road of commercial property."　　The head of the Investment Management Department of a medium-sized insurance company told reporters. It is a concern that why the insurance companies in this time point will be intensive market?　　The current price is not high, the source argues, because of the core area of resources for which the risk is competing.　　The new administrative center of Chengdu has attracted the eyes of many insurance funds.　　Reporter learned from the relevant channels, January 22 this year, Pacific Asset Management company project investment industry general Manager Cheng has inspected the center of the 2nd Office Building, and Chengdu related Aspects of the possibility of investment. Cheng foot just left, PICC investment holding Sichuan Asset Management Department director Zheng Line Hind foot, the target is still 2nd office building.　　Before and after this, Sichuan Province rural credit cooperatives, Chongqing Bank has also considered the administrative center.　　However, in the end, it is the state insurance and home two of the three. At the end of August, the State property insurance to 492 million yuan to pick up the price of 1, 2nd buildings, followed by the end of November, Chou also to 646.2 million yuan price to buy the building 5th. Data show that the purchase of this building, China life, including the floor of the building area 42983.48m2, underground negative layer of a total of 400 parking spaces.　　According to the evaluation of Sichuan Zhicheng Assets assessment Price, the upset price is 608.28 million yuan, the transaction prices relative to a premium of 6.25%.　　According to the requirements of the Chengdu City, two companies have to relocate their southwest headquarters or Sichuan regional headquarters to the administrative center after the successful purchase.　　In fact, since the end of July, insurance funds to buy a flat, buying land is very fierce, competitive battlefield concentrated in the eastern developed areas of the core. July 30, China Ping An 613 million yuan price to buy Shenzhen Futian Central District, a plot; August 4, Chinese longevity Zhejiang branch to 2.59 billion yuan of the price obtainedZhejiang Hangzhou Qianjiang New Town core area of the commercial financial land No. 32nd.　　September 17, the Ruian construction industry to 718 million yuan Price, plus 9 million yuan of additional amount will be located in the 3 section of Renmin Road, Chengdu, the first phase of the underground parking spaces and two of the land properties, warehouses and underground parking spaces and other assets sold to ping an property insurance. In addition, there are reports that Taikang life is also located in the heart of Beijing, the south side of the Chinese art Museum, a total construction area of about 60,000 square meters of comprehensive land.　　China Taiping Insurance is 216 million of the acquisition of Shenzhen Futian gas turbine power company 30% stake, the company's main asset is located in Futian, Shenzhen, a piece of land.　　Near the end of the year, the insurance funds of the drama is also increasingly exciting. "We are also very concerned about insurance funds in the real estate market every move, if encountered these easily Chi opponents, it will be a terrible thing."　　"An executive evaluation of a large domestic housing enterprise said.　　Long-term mismatch or the absolute allocation of real estate prices high, the state three-time control of the key, the risk of capital why still dare to sell?　　The insurance companies believe that the case of the Sino-Service block of the state insurance industry floor price reached 21,000 yuan/square meters, assuming that other construction costs to 10,000 yuan/square meters, then in Beijing's core CBD zone, 30,000 yuan/square meters of price may not be high, because this is a piece of scarce assets.　　From a longer-term perspective, the impulse to insure money can be understood in three ways.　　In the opinion of the Head of Investment Management Department of the above-mentioned insurance company, the narrow investment channel is the most basic reason of the insurance fund chasing the land market, secondly, the commercial real estate can bring the stable cash flow income, can satisfy the demand of the long-term stable investment return of the insurance fund, and finally, it is the benefit "If the real estate market develops smoothly, the comprehensive yield from the land should be very stable."　　"The above property executives also share this view.　　Take China Ping ' an as an example, the seller Chengdu Ruian Huiyuan Real Estate Co., Ltd. agreed to rent the 18 floor of the two-phase project in Central Hui Plaza as an office, a period of not less than three years, the initial monthly rent of 150 yuan/square meters, and rents must be increased by 5% per annum. "This rent level has been quite good, into the city's top office space is only 180 yuan-200 yuan/square meters of the range."　　"A person in Sichuan Zhongyuan Property said. "It may take a long time to offset the cost of the purchase, which may not seem like a good deal, but it's not the most important one," he said. For insurance companies, in this process, land assets have the opportunity to carry out value-added assessment, which will benefit the statement of investment income, funds and other subjects.　　"said the property company executives.　　At the same time, this group of holding large amount of institutional investors, but also to the entire real estate market to bring certain waves. The real estate executives said that it would be a good opportunity for real estate developers to use and manage the funds well. He's, for example, associated with insurance funds.Land, or absorb the risk of investment in real estate companies, project companies. As for risk, "the most worrying thing is that the commercial real estate market is similar to the 1990 Japan crisis and the collapse of property prices in the 2008 US subprime crisis." "I went to Dubai last week," said the property company, "where the property price has remained at a peak of 50%."