After 82 rounds of bidding, Beihaojia, a subsidiary of Beike, won the third phase of the Chengdu Jinjiang District Financial City plot for nearly 1.1 billion yuan. This is the first time that Beihaojia has acquired land since its establishment. Prior to this, it actively participated in land auctions for popular plots in popular cities. The reporter from Huaxia Times learned that the plot is expected to be independently operated by the Beihaojia team, and the plot is initially planned as a high-end residential product.
It is worth mentioning that Beike stated that Beihao Home is not a developer, but a data-driven residential development service platform that focuses on designing residential products that meet customer needs.
Winning high-quality land parcels in Chengdu
After multiple appearances in the soil auction, Beihao Home under Beike finally gained something. On September 20th, Beihaojia won the bid for the third phase of the Financial City in Jinjiang District, Chengdu. According to public information, the plot of land covers an area of approximately 24 acres and is purely residential with a plot ratio of 2.5. The starting floor price was 19200 yuan/square meter, and the final transaction price was 1.076 billion yuan.
The reporter from Huaxia Times learned that the urban interface environment around the third district of Jinjiang Financial City is relatively good, and multiple schools, nursing homes, and ecological parks are planned nearby. At present, the project is initially positioned as a high-end product, and it is expected that the entire process will be independently operated by the Beihaojia team, fully reflecting Beihaojia's C2M (from consumers to manufacturers) concept from land acquisition, positioning, design, marketing and other aspects.
What is the origin of Beihao's family? The reporter from Huaxia Times learned from Beike that Beihaojia was established in July 2023 and has formed a diversified and specialized team including AI algorithms, data products, customer research, design and construction, marketing planning, etc. Prior to this land acquisition, the Beihaojia team had completed research and learning on hundreds of real estate projects in key cities across the country, clarifying the positioning of a "data-driven residential development service platform".
At the same time, Beihaojia has also established a "1+2 business model" with "C2M product solutions supported by big data" as the core, supplemented by "flexible and diverse funding solutions" and "efficient customer acquisition marketing solutions that integrate online and offline". As of now, Beihaojia has cooperation projects of this model in Xi'an and other places.
Not as a developer
Affected by the continuous adjustment period of the real estate industry in recent years, real estate companies tend to be cautious when acquiring land. According to data released by the Zhongzhi Research Institute, the total land acquisition amount of the top 100 real estate companies in the first eight months was 473.13 billion yuan, a year-on-year decrease of 40.0%, and the decline continued to expand by 2.0 percentage points compared to the first seven months. So, in such a market, why did Beihaojia "go against the trend" to acquire land?
Beihaojia believes that currently, the real estate market has shifted from mainly addressing "whether there is" to mainly addressing "whether it is good". The development model that pursued speed and quantity in the past is no longer suitable for the new requirements of high-quality development, and a new development model needs to be constructed. Beike is optimistic about upgrading the residential supply side, believing that with the advancement of technology and changes in market development trends, based on big data analysis of different homebuyers' consumption needs and behavioral preferences, consumer needs can be fully identified to design residential products that meet customer needs. Through such innovative methods, it is possible to transform the supply chain.
It is worth mentioning that Beihaojia is not engaged in traditional real estate business. Xu Wangang, Vice Chairman of Beike Group and CEO of Beihaojia, stated that independently managing a project does not mean that Beihaojia wants to become a real estate developer. The main purpose is to better verify the implementation ability of C2M product solutions and enhance the trust of partners in the "1+2 business model".
The vision of Beihaojia's' data-driven residential development service platform 'remains unchanged, and it will build a new real estate development model with C2M, providing comprehensive solutions for developers, construction agents, owners and other partners with a' 1+2 business model ', "said Xu Wangang.
Yan Yuejin, Vice President of Shanghai E-house Real Estate Research Institute, told a reporter from Huaxia Times, "This fully demonstrates the traditional advantages of platform companies like Beike. They will continue to explore diversified new businesses and actively participate in the land market, which will help promote the construction of a full process model of 'housing' and 'land' on such platforms, truly responding to the new development model and requirements of the Ministry of Housing and Urban Rural Development's' people, housing, land, money 'policy
Yan Yuejin believes that Beike will not follow the traditional path of real estate development, and its biggest advantage is its platform value. Through the development and experience accumulation of such plots, it will help Beike explore new platform functions and values in real estate development.
Select popular cities
This time, Beike's land purchase has further enriched the types of land buyers in the land market, fully demonstrating Beike's abundant funds, clear strategic direction, and sustained optimism about the future development of the real estate industry. The rise of new forces in the key national land market also provides greater support for the stable and healthy development of the land market, "Yan Yuejin told reporters from Huaxia Times.
The reporter from Huaxia Times noticed that the land auction market is not always cold. Taking the Phase III plot of Jinjiang District Financial City as an example, the plot attracted more than ten real estate companies including Beihaojia, Jinmao, Greentown, etc., with a total of 82 rounds of bidding. The Sichuan branch of Zhongzhi Research Institute believes that the reason why the third phase of Jinjiang District Financial City is in high demand is due to its sufficient scarcity, and high premium transactions are within industry recognition.
From the perspective of market performance, Chengdu has also been a popular city for real estate this year. According to data released by CRIC Sichuan, the transaction area of residential properties in Chengdu was 6.1 million square meters in the first half of this year, ranking first among key cities. Meanwhile, Chengdu is the only city in the western region to be included in the top ten cities for transactions of tens of millions of properties in the first half of 2024 according to CRIC statistics.
The person in charge of Beihaojia is very confident in the future development of the company. Li Yujiang, the person in charge of Beihaojia in Chengdu, said, "We are creating the best products in the best locations of new first tier cities. On the one hand, we are fully prepared and confident in building the project into a 'good house' that meets the needs of high-end customers. On the other hand, we hope to do a good job in this iconic project, establish a good brand image of Beihaojia's' good products, good services', and give our partners more confidence in us