Pan Shiyi: The property market or the current volume of prices fall

Morning News reporter Fengxin Soho China's first half of the performance of high innovation, and gradually increase the proportion of commercial real estate to 20%. The 2010 interim results, released yesterday by Soho China (Soho China, 00410.HK), showed record highs in the first half of the year.　　However, Soho China's chairman, Pan Shiyi, said during the meeting that China's housing market could have a decline in turnover and prices in the coming year. In the first half of Soho China after deducting business tax turnover rose 119 times times to RMB 8.66 billion yuan, already exceed 2009 annual turnover level.　　Later, Pan Shiyi said at the meeting that Soho China's business model has changed, will gradually increase the proportion of property ownership, 3 years to reach 20%. Soho China's first-half performance hit a record high, with a net profit of 1.72 billion yuan, an increase of 136 times times year-on-year. Contract sales in January-July this year amounted to 13.57 billion yuan, of which Beijing new landmark project-Galaxy Soho accounted for the largest sales share of 5.96 billion yuan, followed by the Soho Ka Shing Center and Soho China's first project in Shanghai Soho Donghai Plaza, respectively, sales of 3.35 billion yuan, 2.2 billion yuan.　　The Board resolution issued an interim dividend of RMB 0.12 per share for the first time to distribute the interim dividend for the Soho China listing. Pan Shiyi said that Soho China's three projects in Shanghai (Soho Donghai Plaza, Shanghai Waitan 204 plots, temporary 15th plots), as well as the Beijing Galaxy Soho, Wangjing Soho, Guanghua Road Sohoii and other projects have been completed and will be built,　　For the company in the next three years to create about 50 billion yuan in sales. Pan Shiyi stressed that the future Soho China will continue to be in Beijing, Shanghai bustling areas of commercial real estate development business model, this year's pre-sale targets and announced at the beginning of the unchanged, still 18 billion yuan.　　He said that the first half of the year has completed the annual sales target of 75%, the reason is not to increase this year's pre-sale targets, mainly Soho China in the past, "only rent-only" business model is being adjusted, the company will gradually increase the proportion of property holdings, the plan for 3 years to hold the property will　　Pan Shiyi revealed that in the future, the key to holding properties is locked in unique areas and lots, with the focus on holding 204 plots in Shanghai Waitan, the Galaxy Soho in Beijing, and the Guanghua Road Soho and other projects. However, at yesterday's performance note, Pan said that the housing market in the mainland this year may have a decline in turnover and prices.　　He thinks, now many property developers debt rate is high, the supply of funds is not optimistic, coupled with the government's tightening of development loans, clean up the idle land policy and the government will soon be introduced by developers pre-sale funds supervision measures, will greatly tighten the hands of developers of funds. In addition, Pan said, according to the National Bureau of Statistics, the first half of this year, the National Real estate market investment growth of 38.1%, housing construction area of 3 billion square meters, are the history of the highest waterFlat, occupy a large amount of money developers, while the construction area will increase market supply, coupled with affordable housing in the second half of this year to form a larger supply, will affect the housing market price decline.