A reporter for the economics, sun ronan
In recent years, more commercial power has accelerated the deployment of zenan. How did chinan xinlong square, shimong square, impression city, dragon lake sky street perform in the first half of this year
The performance of major commercial property listed companies in the first half of 2023 has been continuously published, and journalists from the economics press have been combing the operations of the jenan business projects under the umbrella of these enterprises。
With the recovery in consumption, the retail market showed signs of warming, and the performance of well-known brands in these areas of business generally improved in jenan during the first half of the year, especially with regard to high-end business projects, as reflected in indicators such as rental income disclosed by enterprises, rental rates and sales volumes。
The operations of these malls also reveal the state of the industry and developments。
In an interview with a journalist in the economics channel, the deputy director-general of shang dong fu stated that “this year's business as a whole has been up from last year or previous years. Rent and income levels, among others, have ended the downward trend of previous years, and the development situation cannot be described as good, but has at least been reversed and improved.”
High-end commercial projects maintaining “goldness”
The high-end commercial complex in zinan is dominated by the cities of hanlong square and vientiane, two large-scale projects that stand out on both scale and human quality。
The mid-term performance for 2023 of the hanlong group (00010. Hk) and changlong estates (00101. Hk) reported that after the completion of the first phase of the assets optimization plan in chinan shenglong square in the second half of 2022, revenues rose by 3 per cent and tenants'sales by 31 per cent in the first half of the year, respectively, reaching 156 million yuan, compared with 151 million yuan in the first half of 2022。
In addition, the rent rate at chinan shenzhiro square at the end of june 2023 was 89 per cent, a slight decline from 90 per cent at the end of december 2022 and 92 per cent at the end of june 2022。
In 2011, jenan shenzhiro square, located on spring road, opened. Since june 2021, chinan shenglong square has been undergoing its largest transformation since its opening - a three-year asset optimization plan has been implemented in stages to enhance the location of the mall and the choice of high-end brands。
“the first phase of asset optimization in chinan xinlong square is planned to be completed in the second half of 2022, leading to growth of 3 per cent and 31 per cent, respectively, in the proceeds of the mall and the sale of tenants.” in his mid-term performance bulletin for 2023, he stated that “the long-term competitiveness and profitability of the mall is expected to continue to improve as many beauty brands and chinan's first shop are successively located and opened, and the remaining phases of the asset optimization plan will continue”
Overall, in the first half of the year, there was a 13 per cent increase in market revenues in the mainland, of which high-end malls increased by 16 per cent. Henlong stated that high-end malls benefited from market warming and increased tenant sales, particularly during spring and valentine's holidays。
This also mirrors the growth in high-end consumer markets。
In the first half of the year, the sub-high end of the market fell by 3 per cent, mainly due to the decline in the rental rate。
Henlong is also working to upgrade sub-high-end properties to higher-end categories, and is upgrading chinan henlong square. As revealed in the hanlong year 2021 newspaper, after completion of the assets optimization plan in 2024, chinan han long square is expected to be among the top shopping malls。
High-end projects run under the banner of the han long and hua yun enterprises have occupied an important place in the zinan commercial landscape in recent years。
Another member of the jenan high-end commercial market, general vientiane, is currently under the banner of hua yun mane (01209. Hk). The land was previously split between commercial operations and property management, and the land was established and placed on the market in hong kong。
The mid-term report on the life of hua yunin has not revealed the specific “statement cards” of the vientiane projects under the flag, but only provides an overview of the overall performance of the huayun commercial project。
According to the mid-term report for 2023 on the life of hua yun man-yo, the economics director has three new shopping malls in the first half of the year. “the first third-party heavy-luxurious project to land vientiane city, lanzhou, led to a new demonstration of the management of light assets at the high-luxury shopping centre, increasing the number of sites under the banner to 12 in vientiane city, ranking first in the industry; seven new commercial light-assets expansion projects have been signed, all of which are large tod projects in two major cities.”
In the first half of this year, hua yun man-yi lived in a camp shopping centre with retail sales of $84. 1 billion, an increase of 41 per cent over the previous year; rental income of $10. 5 billion, an increase of 52. 1 per cent over the previous year。
It is worth mentioning that the number of luxurious shopping centres under the banner of hua yun manyo has reached 12, although, according to the public information, the city is not yet in place. It remains to be seen whether the future of the city will usher in an escalation。
On the whole, high-end commerce remains the performance of commercial property, the “pressure rock”。
The new forces of commerce are coming in
In addition, the interim report of 2023, disclosed by smoo group (00813. Hk), showed that rent income from chinan smoo square, located on spring city road, was $70 million in the first half of 2023, down from $73 million in the same period in 2022. In 2021 and in the first half of 2020, the rental income in jenan square amounted to 79 million yuan and 76 million yuan respectively. The rental income in the first half of 2023 in jenan square ranked second in the commercial projects disclosed by shimo。
In his 2023 semi-annual report, shimo expressed the hope that, through a restructuring of business strategies, combined with a sustained recovery in the market environment, “the goal is to restore the overall lease level of the commercial project to the end of 2021 by the end of the year”
In zinan, more new commercial forces have also joined in recent years, such as the city of impression in the hung building area, the long lake ortex street in the cbd area。
Jenan impress city, located in the area of the flood building, is the first impress city in shandong where the print of a commercial property platform under the vanco flag is located。
The reporter for the economics noted that vanko a (000002) semi-annual report for 2023 showed that jenan impress city earned $76,948,900 in business income in the first half of 2023 and that the rent rate at the end of june 2023 was 95. 97 per cent。
Of these, operating income was lower than in the same period last year, and the economic monitor, who consulted vanco's previous annual newspaper, showed that revenue from business in jenan impress city in the first half of 2022 was $83. 69 million, with a rent rate of 95 per cent. In addition, in 2022, jenan impress city earned approximately $167 million in business income, representing a lease rate of 96. 4 per cent at the end of the year。
According to huanko, in the first half of the year, the group's business operations generated $4. 30 billion, an increase of 7. 3 per cent over the previous year. Of this amount, 2,740 million yuan was generated from business projects managed by the indian power, representing an overall rental rate of 94. 7 per cent, an increase of 2. 0 percentage points over the same period。
With regard to future developments, vanco mentioned that business development and operations would secure the opening of priority projects and sustain the iterative product content; and improve the return on project operations。
Let's take a look at loon-hoon sky street in the cbd section of chinan。
According to the 2023 mid-rong lake group (00960. Hk) newspaper, the economic guide reported that, between january and june 2023, the rental income on chinano sky street was $466. 69 million, or 0. 9 per cent of the income of the group, and the rental rate was 97. 3 per cent; from january to june 2022, the rental income on othian street was $4. 522 million, or 1 per cent of the income of the group, and the rental rate was 94. 6 per cent. The zenanho sky street building covers 776 square metres。
The main commercial site boards held by dragon lake include sky street and starlight。
In addition to the already established otien tian street, the economics monitorer noted that long lake had set up north and west sky street projects in chinan。
In its 2023 mid-report, the chairman of the board of the dragon lake group and ceo ping stated that “long lake has been able to reserve a wealth of commercial projects in high-energy cities, and in the form of a `graft-up', steadily advancing the gridization of high-energy cities, with commercial shipping lanes beginning to contribute to cash flows”
In his interviews with journalists in the economics press, xu xian has shown that business development is certainly a growing trend. In addition, the number of business malls and shopping malls in the last few years has increased at a faster rate and the trend is more pronounced. In addition to hardware upgrades, there is a growing interest in the direction of construction。
“in the light of future trends, it is difficult to attract consumers if, as in the past, uncharacterized and non-uniform shopping centres are created without any prominence in business structure or subject style.” for example, commercial structures, which used to be the first floor of department goods, the second floor and the third floor of catering, followed by entertainment projects, cinemas, etc., are increasingly subject-oriented and situational adjustments in business structures to attract more customers, and shopping centres such as the “thousands of shops” are now becoming increasingly difficult to attract consumers。
