Pan Shiyi again on transformation: real estate and the internet to "together"

November 26, Beijing, heavy pollution.

Soho China (00410,HK) Chairman Pan Shiyi stood in Beijing Guanghua Road Soho Two Phase 15 floor window, the turbid air surrounded the downstairs pedestrians and vehicles, at this time the outdoor PM2.5 index has exceeded 200. He turned around and asked the staff to measure the indoor values, and the results showed that the PM2.5 index was close to 18.

Pan Shiyi's hobby also has squeezed the juice, the kind of apple, in the public place very few talks about the market he is regarded as "the amateur". But in fact, after the transformation, in addition to the great adjustment of internal management, Soho China is brewing a second change. "This will involve all business links, changing the pattern between people and offices through Internet technology." "Yesterday (November 26), Pan Shiyi said in an interview with the Daily Economic news," Soho China is expected to launch a platform for collaboration with the Internet next February 1, with 20 to 30 projects in place. "

"Take the land will be slow down"

In the third year of transformation, Pan Shiyi did more to sell than buy.

September 29, Soho China announced that the group and Ctrip Shanghai, Ctrip related companies on the September 26 sale of the volley Soho properties and ancillary facilities to enter into a framework agreement, the total price of about 3.05 billion yuan (about HK $3.85 billion).

"In fact, we do not intend to sell this year, but just Ctrip took a fancy to the project, bought half." "Pan Shiyi told the Daily economic news reporter that the 4 projects that have come into the market this year include Wangjing Soho in Beijing, two Guanghua Road Soho, Shanghai Fuxing Road project and the volley Soho, which will become the main source of rental income for Soho China next year. "There is basically no sales next year and rental income will rise substantially and will exceed sales by next year." ”

However, in the first half of this year's operating income of 4.586 billion yuan (the same as the same) is still by sales, especially in Shanghai, the sale of multiple projects in the interests of the acquisition.

"As the number of scattered items is getting smaller and the proportion of owning property is increasing, how can we guarantee that the end of the sales project is over, but the rental income has not yet been reflected in the smooth transition, which is the key issue for Soho China, and it is most appropriate to withdraw funds with the aid of a large "A real estate analyst thinks.

"Management will be more refined, and take the land will certainly slow down." Pan Shiyi revealed that this year, the project will be paid in the next year, the construction cost is about 10 billion yuan, in order to reduce the debt rate, the overall investment must slow down, "after all, rental income is a long-term process, different from sales." ”

Pan said that at present the company carrying about 16 billion yuan in cash, plus a forthcoming entry, will maintain close to 20 billion yuan in cash. "From the sale to rent this link has been successful, because the biggest challenge is the capital chain breakage, in the transition before we spent one months to calculate the various possibilities, but the fund chain has not been a problem." Pan Shiyi said.

When the reporter asked whether there will be a new investment next year, Mr Pan said, not yet. But for several Beijing projects that have entered the leasing phase, Pan Shiyi has his own way of doing business. "The upfront rents will be lower, and in the case of Wangjing Soho, we have increased rent by 10% in May and about 3% in October after the start of the April rent, and then in December, there may be a substantial increase in rents, probably in 5%~10%." ”

Soho China two Times transformation

The World Internet conference just ended in Wu Town, Pan Shiyi also went to "soy sauce". In fact, he has been thinking about how to embrace the Internet, and this time, not simply sell the house online.

"Now every house is thinking about the combination of real estate and the Internet, and the next step is to think about how to innovate and how to make products." "Here, Pan Shiyi also don't forget" suspense "," We are preparing a secret plan, the combination of real estate and the Internet, the software will be announced February 1 next year, the details are not disclosed. ”

In the "Daily economic news" Press, Pan Shiyi revealed that this change will involve all aspects of Soho China's business, from management development to late lease, while involving new profit links and new urban expansion, through the recent large number of "recruit" to attract experienced people with internet experience, To build Soho China's own internet operation technology, but the platform will also find partners.

"The core of how to upgrade the traditional industry, and in the context of the Internet, why people have to go to the office, this pattern will be completely changed, then Beijing and Shanghai will make a model room, next year will be twenty or thirty projects to participate in it." Pan Shiyi said.

"Will this be the second time that Soho China has been transformed?" asked the reporter. Laopan nodded.

Pan Shiyi and his Soho China, in a sense, have witnessed a number of nodes in China's economic development, which are reflected in the characteristics of the people they buy.

"From the earliest of our Soho, modern City Soho, our customers more and more appeared the coal boss this group, followed by Steel enterprises, then Tangshan Steel Enterprise boss to three Li Tun Soho, casually are 3, 500 million, but now our office building, especially Wangjing Soho, more than 90% Tenants are internet companies. "This reality, let Pan Shiyi have to think about how to transform."