2014-09-18

Pan Shiyi: Market Still Adjusting

Summery: real estate not at the turning point, business isn't good this year, only IT firms are supporting the commercial rental market. SOHO is doing well, capturing the IT demand for rental space.

From iFeng: 潘石屹:市场还在调整中

"This year is also expanding to rent office space only IT companies, while the real estate and the economy are still adjusting in the Beijing Economic activity is more single." SOHO China, Pan Shiyi, chairman of the Beijing News said yesterday in Beijing this year in addition to IT companies In addition, other companies are "make do", who does not expand, nor expansion of office space to rent.

Pan Shiyi, the Beijing News said on its highest office located in Wangjing Wangjing SOHO tower completed in three weekends, has pre-leased about 50%, of which more than 90% of companies from IT companies such as touch technology, unfamiliar street, etc., most IT companies is to move out from Zhongguancun.

Since 2012 announced the transition from the developer for the office held by the operator, the leasing instead of selling SOHO China has become the biggest challenge. September 15, SOHO China report shows, SOHO China in the first half 2014 turnover of about 4.75 billion yuan, an increase of approximately 83%. Rental income in the first half of about 164 million yuan, an increase of approximately 84%.

But compared to 2013 Beijing office market is hot in this year lease is facing some pressure. Pan said, 2012-2013, SOHO office is located at the East Second Ring Road Beijing Chaoyang Gate Galaxy SOHO leasing, over 50% of the tenants from the financial or quasi-financial industry, all kinds of PE (private equity fund) is leasing large; Wangjing this year When SOHO leasing, quasi-financial enterprises "One gone," only IT companies as well as the expansion of demand.

According to Beijing Statistics Bureau data, from January to August this year, the Beijing real estate this year new construction area of ​​14,682,000 square meters, down 29.7%; where residential new construction area of ​​8.334 million square meters, down 18.2%.

"Too single tenant office buildings, in fact, the risk is great, but this year the economic situation is not very good, only by IT companies in the short term." Pan said, the real estate market still adjusting, the moment did not reverse the trend.

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