The thirst of funds triggers the housing companies to set up real estate funds

Yin Xue Zhang Yanhong recently, as the first mainland China to be successfully initiated and raised by developers of foreign real estate investment funds, the Gold Group (600383.SH) announced the completion of its joint venture with UBS to launch the second phase of the real estate fund, so that the fund's size reached nearly 200 million U.S. dollars,　　Mainly used to invest in China's first-line and part of second-tier urban residential development projects.　　Coincidentally, backed by Chinese architecture (601668.SH) of the construction of real estate management recently also disclosed that the future is interested in considering the establishment of a fund platform, the operation of real estate business.　　In the capital of the real estate sector, a fund boom is gradually starting the curtain. The solution capital near thirst "instead of letting rich folk money to fry soybeans and corn, attract them to participate in real estate funds."　　"High and investment chairman suxin that private equity as a" sponge "to attract excess liquidity, which has positive significance for the development of real estate. The fund was launched several times a year after he left the post of Vice president of Soho China as the founder of the high and investment in real estate private equity. Earlier this year, they acquired the bottom of the Beijing Kaiser Seal Project, and in May bought a two-stage office and shop in the Lufthansa Center, which opened and sold out, with a premium rate of more than 70%.　　In late November, Gao and the investment again to be located in Beijing city North three ring Madian Bridge Area Gold o International Office Project.　　Suxin that, although the overall amount of renminbi real estate funds is still small, its future development may be very rapid.　　Indeed, quick turnover, high premium real estate funds not only make many real estate professional managers have to transform, but also make many developers difficult to resist its temptation, especially those financial chain tight real estate enterprises. "The current property market regulation policy for investment funds more stringent restrictions, if this part of the funds can be absorbed and effective use, it is also a good channel."　　"Greentown China (03900.HK, hereinafter called" Greentown ") vice chairman Subernian said. Greentown 2010 reported that as of June 30, its debt rate has soared from the end of last year's 105.1% to 158.8%, but according to Subernian expected, "because the second half of the green to pay nearly 10 billion yuan land and 11 billion Yuan project, so the second half of the company is expected to temporarily reduce the debt rate."　　"In front of the high debt rate, Greentown will look at the real estate Fund." For the Green city is operating real estate fund, Subernian previously told the media, the management of the Fund, mainly through some financial institutions to the social investors gathered money, and then the professional team for investment management. "We will invest the fund in the location of the green green, that is, the development of green Greentown management or cooperation with the Greentown project." Unlike other housing companies, we set up a fund to be an investor and to participate in the management of a fund that is not managed by a single fund management company. "Subernian has said that the second half of this year to the first half of next year, Greentown canEnough to have a concrete advance on the real Estate fund. But as of now, there is no general plan on what form the Fund should take into account. Subernian recently on the "First financial daily" that, from the preliminary feedback, some customers want more liquidity, some customers tend to be conservative.　　So the future will take the form of closed or open, and it is still uncertain. Financing is not a problem for Haier real estate.　　Haier Real Estate chairman and CEO Lu Ying introduced, Haier is China's very few enterprises with financial system, Haier has its own banks, insurance companies, investment companies, securities companies and financial companies, such a financial system to Haier property to give a relatively strong access.　　Even in such a deep financial background, Haier property has set up its own real estate fund. "Haier real estate fund may be launched recently, the funds raised mainly from the group's internal resources and external private placement, mainly to solve some of the project at some stage from the bank is not convenient to obtain funds."　　"Lu Ying said. "Just like Vanke Xiaoli said, for real estate developers, the expansion of financing channels, change the way to finance, has come to an urgent time, and in the grand background of urbanization, China's real estate development needs to introduce the national and social capital." The real estate enterprise always lacks the financing channel.　　"Beijing Silver Letter Real Estate development company Chairman Zhang Min Geng believes that all these reasons caused the real Estate fund preparatory impulse." In this respect to walk in the forefront of the industry is undoubtedly including the gold group.　　According to Huang Junchan, its new president, the financial services will contribute about 20% of the profit to the gold group by 2015.　　Sheng Investment is the Golden Land Group in Hong Kong set up a wholly-owned company last year, it is the Golden Land's focus on the mainland real estate investment and financing business development platform, currently the company's chairman, by the Golden Group President Huang Junchan concurrently. It is reported that the company is responsible for a series of financial operations under the group, including the UBS-China Real Estate Development fund jointly raised with UBS AG and the 10 billion investment plan with Ping An trust.　　In addition, RMB funds will be set up. Previously, the U.S. dollar Fund to stabilize the cooperation with UBS has completed the first round of the raise, the amount of 125 million U.S. dollars, the fund's initial fund of about 5 million U.S. dollars has been invested in a small project in Shenyang.　　This time, the Dutch pension fund PG-GM to the fund to invest 75 million of dollars, so that it completed the second phase of the fund-raising, the fund's size reached nearly 200 million U.S. dollars.　　Steady Sheng investment general manager Wu Tao also disclosed to our correspondent, the company's RMB Equity investment fund fund-raising work, is in preparation. But in fact, in the market environment where traditional financing channels such as credit and capital markets are tightening, developers may still need more exploration to ease the immediate worries of funds by raising funds. Some people in the industry said that in the international, developers and real estate private equity funds are very clear, they are the industrial chain upstream and downstream relations, if confused, will have a correlationTransactions。 In the end, it could lead to a profit distribution that benefits developers and discourages investors. Illustrations/刘飞