Suzhou Autumn trousers Building in the past life: "Weaving" has not been completed in nine years

Autumn, "Autumn Pants" first fire. Because the appearance resembles a "Autumn trousers", Suzhou "the Door of the Orient" recently became the controversial "landmark" building. Little known, however, that the project has been in place for nearly 9 years since 2004 and has not yet been completed. Since the start of the pre-sale in the second half of last year, the "Door of the Orient" to the mediocre performance, after "swallowed" large sums of money, this "landmark" project faces more than the embarrassment of appearance. "Oriental door" developers for the Suzhou dry-ning Real Estate Co., Ltd. (hereinafter referred to as "dry-ning Home"). Suzhou local developers to the "First financial daily", in the current bank tightening development loans, commercial real estate increasingly rely on equity financing. And the capital problem that the project may face is exposed behind the frequent equity transfer of Nanjing Real estate. "At the beginning of 2000, that is, the dry-ning home land, the local government to attract more favorable conditions for investment, but the" door of the Orient, "the developers are private enterprises, with the delay in the completion of the later, the enterprise can receive support from the government will be more discounted. Said the developer. The capital was established in August 2003 and launched an international tender for the "Oriental Gate" programme in September. After the design is settled, the project begins to enter the land-holding stage. February 2004, Dry-ning home to about 400 million yuan to the east of the door of the location block, an equivalent of 11.04 million yuan/Mu, the time of the Suzhou Industrial Park to sell the operating unit price records. The plot is located at the eastern end of the central Shang of Suzhou Industrial Park, composed of two plots, the overall transfer, the total area of about 24,000 square meters, the use of commercial, part of the hotel-style apartments, the volume rate of 13.7, building a height of 278 meters. At that time, the total construction area of about 430,000 square meters, the total investment of about 4.5 billion Yuan East gate is the largest and most invested in the single building. The project was scheduled for completion before August 11, 2008. In fact, however, the completion date of the project has been delayed since then. After the foundation ceremony was held in 2004, the "Oriental Gate" was not actually started until 2008. Why did the project stagnate so long after land acquisition? The explanation of the dry-ning property is from the plan to the design of the project to the construction drawing, from the wind tunnel test to the earthquake experiment and so on, each step to the national Ministry of Construction organization Expert Group review and acceptance, some data China did not even want to buy foreign data, this spent nearly four years. But in fact, during the period from 2003 to 2008, after the transfer of the shares, the new investors continued to share and withdraw, showing that the company's funding level has been tested. The registered capital at the beginning of the establishment of the dry-ning property is 100 million yuan. Company sponsors for the Nanjing Tiandi Real Estate Development Co., Ltd. (hereinafter referred to as "Nanjing Tiandi Real Estate"), Nanjing Oriental Investment Group Co., Ltd., Suzhou Taihu Star Development and Construction Co., Ltd. (hereinafter referred to as "Taihu Star Company") and Suzhou Oriental Star Real Estate Co., Ltd. (hereinafter referred to as the "Oriental Star of Suzhou"), respectively, holding the company 35%, 30%, 30% and 5% shares. The legal representatives of the four shareholder companies are Yang Xiu. According to a Nanjing developerIntroduction, Yang Xiu for the first group of private entrepreneurs in Jiangsu, industry started, and then turned to investment in real estate, in Jiangsu, Shandong and other fields to develop a number of residential projects in the industry quite famous. Nanjing Tiandi Real Estate, one of the first owners of Nanjing Tian ' An, is the developer of the project, the other sponsor of the Taihu Star Company is the developer of the Suzhou Taihu star Villa Project, two projects are in the local high visibility. However, the development of "the Door of the Orient" such a costly large-scale commercial and residential projects, but is Yang Xiu first attempt. Let the two major real estate project companies jointly participate in the "Suzhou Door", showing Yang Xiu in the project to let go a fight of determination. However, to pry into the total investment of 4.5 billion yuan projects, the dry-ning home still need to continue to find new investors. Soon after the establishment of the dry-ning property, Taihu Star Company to the South Jinghua Heng Investment Co., Ltd. (hereinafter referred to as "Hua Heng Investment") and Nanjing Huafu Investment Limited (hereinafter referred to as "Hua Fu Investment") each transfer 15% of the equity. And the other two owners of dry Ning Property-Suzhou Oriental Star and Nanjing Tiandi real Estate also tried to separate its 5% stake and 14% shares to Jiangsu Wan Tai Industrial Group Co. Jiangsu Wan Tai Industrial Group Co., Ltd. is a deep background, the real estate business platform under the name of Jindong, the big shareholder is Jiangsu Suning Investment Development Co., Ltd. However, the desire of the dry-ning property to introduce the million-Thai industry ended in failure. Hua Heng Investment and Hua Fu Investment also withdrew from the end of 2007. Since then, Yang Xiu's stake in the company's several affiliated companies to continue to maneuver. Several individual investors have also become new shareholders in the form of equity swaps. Sales bottlenecks There are developers to reporters that real estate companies keen on the "landmark" project for two reasons, one is for corporate image, build brand; another motivation is to win the goodwill of local governments by developing landmark projects that highlight local "achievements", and to make good connections to other quality projects on the ground. But in fact, due to the failure to complete, the "Oriental Gate" that year's landmark aura has been greatly faded. At the door of the Orient, there will be a new "landmark" born. With the "Oriental Gate" adjacent to the plot, the Suzhou Central Plaza project has begun. This is a project of the whole development of Jinji Lake City Development Co., Ltd. The plan includes 500 meters and 450 meters super high-rise building 1, 100~200 meters high-rise tower 7, but also with Singapore Cade commercial development of domestic monomer largest shopping center, the total construction area of more than 400,000 square meters. When the "Oriental Gate" as a landmark spillover effect gradually reduced, the later decoration operations still need a lot of capital investment, dry-ning home only hope that the sale of "self-help." In the second half of 2011, after 7 years of land, the "Oriental Gate" project finally obtained two pre-sale cards. Interestingly, although the "Oriental door" seems to be commercial properties, in fact, two "pant legs" has two kinds of property rights: A "pant leg" (South Building) has 70 residential property rights, the other "pant leg" (North Building) has 40 commercialProperty。 Nanjing Real Estate will be a leg part of the development into 90~240 square meters hotel apartments for sale, the price of 20,000 to 50,000 per square metre, while the other leg is developed to 113 square meters to 2000 square meters of "luxury" external sale, the price of 18,000 to 80,000 per square metre. One of the pre-sale eligibility of the hotel apartment area of 58,500 square meters, a total of 264 sets, access to pre-sale-eligible mansion area of 111,000 square meters, a total of 341 sets. Suzhou industry has introduced, through a series of promotions, "Oriental door" hotel apartment sales are fair, but "mansion" because of poor market environment, but not ideal. Suzhou Urban Housing Sales online management system data also confirms the above statement, as of September 6, the hotel apartment can be sold to 164, to the near 40%, but 341 sets of "mansion" there are still 303 sets of display as "sold."