Tianjin waterfront development to spend 500 million curve land holding 0 profit company

In the real estate market downturn, the development of Tianjin to spend 500 million of the curve to take land. Tianjin waterfront Development recently issued a notice, the company's board of directors agreed to 1 yuan per share of the price of Tianjin Bin Tai Real Estate Co., Ltd. unilaterally increase the capital of 330 million yuan, holding a 73.3% stake in Shore Thai　　and is ready to the price of not more than 187 million yuan open bidding Tianjin Education Investment Development Co., Ltd. Holdings of 120 million yuan Thai property rights, such as success, Tianjin Development will be wholly-owned bin Tai home.　　It is understood that April 16, 2010 Shore Thai property and Tianjin land resources and the Housing Authority signed the use of state-owned construction land use rights transfer contract, bin Tai home to obtain Zinsi ring (hang) 2010-030 of land development rights. The company said the purpose of the transaction was to obtain the right to exploit the land mentioned above. The above land is located in Tianjin's most potential Hexi district, the strategic location, the project scale is moderate, is the Tianjin urban area is relatively rare of the development.　　Through our different products targeted operation, you can get a certain development profits, conducive to the company in the high-end market brand building. Through the above increase will be part (73.3%) to obtain Zinsi ring (hang) 2010-030 of the development of the right to use, after the initial calculation of the project total investment of about 1.024 billion yuan, expected to achieve sales revenue of 1.307 billion yuan, to achieve a net profit of about 211.901 million yuan.　　If the company successfully bid for education investment holding a stake in the Thai home, the company will enjoy the full benefit of the project.　　However, some people in the industry said that the development of Tianjin and the purchase of the land is not optimistic. Public information shows that bin Tai property was established in April 7, 2010, the company registered capital of 120 million yuan, the current only shareholder is a wholly state-owned Tianjin Education Investment Development Co.　　As of April 30, 2010, the total assets of the company, the net asset is 120 million yuan, the profit is zero.　　It is understood that the Tianjin education investment Company to auction the above plots of the time this March 12, only three months from today. Insiders told reporters, with the State Council "new Country 10" of the introduction of the real estate market in the future trend is not clear. In addition, the development of the Tianjin-funded 500 million wholly-owned holding a zero profit company, only the value of its land, is not a very sensible move.　　Tianjin Education Investment Company is anxious to sell the shore Thai property rights may also be considered. Zhongyuan Group Research Center Director Tao Qi said that at present under the new deal under strong regulation, developers whether through the bank credit or capital markets to finance, the difficulty is greater; In addition to the current sales blocked, the speed of withdrawal of funds slowed down, and land transfer management more stringent norms, leasing payment time limit, is expected to Some developers will have a significant increase in capital pressure. However, due to the hot housing sales in 2009, most developers are holding sufficient funds to cope with the current situation. At the same time, the new deal stresses the increase in effective supply, which also gives developers higher expectations of the medium and long term market, and instead increases land reserves.