The benefits of a developer's construction of super-high buildings are considered in two ways: outputs and inputs. In the view of huang yi, while construction height does not necessarily lead to high rent returns, it tends to result in cheaper land and cheaper high-cost financing。
Yvonne indicated that the risk of building super-high buildings was not necessarily greater than that of ordinary buildings, and that the key lay in the cost of land acquisition and financing capacity. On the one hand, developers who are able to build super-high buildings tend to obtain cheaper land from the government; on the other hand, developers start up up to 35 per cent of the investment, they can pry projects, and in the later stages of construction, because of the high valuation of super-high buildings, developers can also obtain convenient, high-value financing, including through collateral, to provide cash flows through rolling development。
For example, the green land group, which has built super-high-rise buildings such as the wuhan green land center and the dalian green land center. According to the watch the east weekly, in 2009, the nanchang and jenan municipalities had built local high-level, low-cost residential land to attract greenfield groups. In addition, the green land project is home to a large group of banks. In the view of industry, it is the greenfield super-high buildings that make them low-cost and highly financed。
Low risk, however, is that the return cycles of superstructures are generally longer for relatively mature developers. The senior director of sbon weiss, lin tianchun, said that for developers of super-high-rise buildings, the return period would be around 10 years, and that if the market was in a situation where demand and supply exceeded supply, developers would also have to farm their brands, the cycle would be further lengthened。
Different enterprises have different requirements for the period of return. As a general rule, well-funded developers prefer long-term holdings to achieve investment returns through leasing and value addition, and vice versa, to hold part of the core property, while quick recovery of investment through sales reduces the return cycle. For the self-held portion of the assets, according to the director of the research and project advisory department of the high international markets, chen ho bridge, there are a variety of business models, both self-organization and commissioning, or the introduction of professional management teams。
Responsible editor: zhang dei
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