The Middle Finger Institute released the 2022 China’s Top 100 Commercial real estate Enterprises research report: Seeking change in stability, grasp the opportunity of industry transformation


Sponsored by China Enterprise Evaluation Association, Institute of Real Estate, Tsinghua University, Beijing Middle Finger Information Technology Research Institute,The “2022 China’s top 100 real estate enterprises research results conference and the 19th China’s top 100 real estate entrepreneurs summit” organized by Beijing middle middle information technology research institute China’s TOP10 real estate research group was grandly held in shangri-la hotel in Beijing shougang park.The research Report of 2022 China’s Top 100 Commercial Real Estate Enterprises will be released at the conference.In 2021, China’s economy remained within a reasonable range and domestic consumption recovered somewhat, but the global epidemic continued and the external environment became more complicated.At present, China’s economy is still in the recovery stage after the impact of the epidemic. As an important carrier of domestic consumption and service upgrading, commercial real estate will play an important role in boosting the consumer market and promoting economic structural transformation.In 2022, combined with years of research accumulation and data foundation in the field of commercial real estate, the Middle Finger Research Institute will launch the study of “2022 China’s Top 100 Commercial Real estate Enterprises” to explore excellent commercial real estate enterprises with strong comprehensive strength, great growth potential, stable operation and strong social responsibility in the industry.Enterprises are encouraged to continuously improve their management and operation level and promote the steady and healthy development of the industry on the basis of an objective understanding of the development status of commercial real estate and the changing trend of the industry.From the perspective of scale performance, influenced by multiple factors such as the impact of local epidemic, both ends of supply and demand of the commercial office market are weak. However, the top 100 representative commercial real estate enterprises, with strong operational capacity and capital advantage, maintain a growing trend in the holding and operation scale of operational property, but the growth rate slows down slightly.In 2021, the average holding and operating area of top 100 commercial real estate enterprises was 4.646 million square meters, up 13.7% year on year, and the growth rate was 1.0 percentage points smaller than that in 2020.As the epidemic has entered the stage of regular prevention and control, the rent reduction policy widely adopted in 2020 has been gradually withdrawn, which means that the year-on-year growth rate of rental of operating properties and operating service income of enterprises has picked up.In 2021, the average income from operating property rental and operating services of the top 100 representative enterprises was 2.87 billion yuan, with a year-on-year growth of 20.2% and a two-year average growth of 12.1%.In terms of growth, the scale of supply and demand of commercial office land in 300 cities has shrunk. In 2021, the planned building area of commercial office land in 300 cities in China will be 261 million square meters, down 15.9% year-on-year, and the transaction area will be 215 million square meters, down 18.2% year-on-year.Under the influence of factors such as weak demand and increased financial pressure, commercial real estate enterprises are more cautious in their investment layout.At the same time, asset-light mode and acquisition also become an important way of enterprise expansion.From the perspective of business quality, the top 100 representative enterprises focus on improving the quality of project management, with a small increase in the average rental rate.The top 100 representative enterprises of commercial real estate take “user experience” as the core, enhance consumer stickiness through exclusive IP building and other ways, and promote the construction of digital platform to improve operation capacity.In 2021, the demand for office leasing will recover somewhat, but the vacancy rate is still high in some cities. Operating enterprises will continue to accelerate the improvement of service system to improve the stability of tenants.From the perspective of robustness, the era of “management dividend” represents the enterprise to achieve the dual goals of debt reduction and development, and achieve stable cash inflow through improving and strengthening operational real estate business, and enhance short-term risk resistance ability.At the same time, the issuance of commercial real estate projects as the underlying asset securitization products become an important way of enterprise financing.In 2021, the issuance of REITs and CMBS/CMBN will shrink slightly, and the proportion of office property in the underlying assets will increase.After years of development, China’s real estate industry has gradually entered the era of stock operation from incremental development, bid farewell to the past extensive growth mode, refined operation will become the main melody of the industry, especially the commercial real estate industry that relies on “operation capacity”, opportunities and challenges coexist.Facing the new market environment and development stage, commercial real estate enterprises need to timely understand the industry changes, accurately grasp the layout direction, explore the innovation of operation mode, and achieve steady development.There are still commercial real estate opportunities in core first – and second-tier cities and third-tier cities with strong consumer demand.Under the new urbanization strategy, the construction of international consumer center city is conducive to the core first – and second-tier cities to gather new consumption resources. Driven by the core first – and second-tier cities, the strong and third-tier cities in urban agglomeration also have room for the development of their consumer markets, and there are development opportunities in the commercial real estate market.Head enterprises continue to separate business management business independent listing, operational capacity value.To achieve efficient expansion through asset-light operation has become the consensus of enterprises. The leading enterprises gradually form scale effect, highlight the value, and are favored by the capital market, and take the road of separating asset-light business management business and listing.In the future, with the upgrading of consumer demand, the commercial operation service market will usher in greater development space, and the wave of commercial management separation and listing is expected to continue.It is high time for housing enterprises to explore new models and transform commercial operation service providers.The era of “scale dividend” has passed. In the future, real estate enterprises need to strengthen the cost reduction and efficiency increase in the development of the main business, and gradually transform to “service provider”. Under the strategic development pattern of “common prosperity” and “double cycle”, commercial real estate business may become the “second growth curve” of some real estate enterprises.In 2021, China’s economy will continue to recover and the consumer market will expand steadily, but the COVID-19 epidemic will continue and the external environment will become more complex and challenging.At the same time, the real estate industry into a deep adjustment stage, industry transformation is imperative.In the face of the complex and changeable external environment, commercial real estate enterprises have taken the initiative in the past year to improve their operation capacity and adapt to the new consumer demand in the new era.2022 is the year of the 20th National Congress of the Communist Party of China (CPC). Despite the ongoing impact of the epidemic, the fundamentals of China’s long-term sound economy have not changed, the trend of consumption upgrading has not changed, and the aspiration of hundreds of millions of people to pursue a better life has not changed. The commercial real estate industry will continue to move forward in the face of challenges.In the critical year of complex and changeable external environment and industry transformation, the top 100 commercial real estate enterprises should actively grasp the industry changes, strengthen operation capacity, explore new growth points, and lead the steady and healthy development of the commercial real estate industry while ensuring their own stable operation.Disclaimer: This article is reproduced for the purpose of conveying more information.If the source is wrong or violated your legitimate rights and interests, please contact the author with proof of ownership, we will promptly correct, delete, thank you.Email address: newmedia@xxcb.cn

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