The opening progress of Wuyue Plaza in 2024!
The real interest rate of Metro is expected to decline further in 2024, with the average financing cost of 6.52% in 2022 and 6.20% in 2023, a slight decline for several consecutive years. Despite the decline, it is still on the high side, and the cost of borrowing is expected to fall further in 2024 with new loan swaps in '23 and '24.
Overall, standing in the position of early 2024, the situation of Xincheng is much better than in 2022!
The total debt of Xincheng will drop from 481 billion in the third quarter of 2021 to 287.7 billion at the end of 23, and strive to further decline to below 220 billion by the end of 2024! At the same time, there are not too many bonds maturing in 2024, and the peak has passed!
As of March 25, 2024, Seazen Holding Group has opened 200 Wuyue Plaza urban complexes in the country and is under construction, of which 163 have been opened (142 are self-owned) and 47 are still to be opened.
Statistics on the Wuyue Plaza expected to open in 2024, as of April 27, 2 Wuyue Plazas have been opened this year!
1. (Opened) On April 26, 2024, Xincheng Holdings [Taiyuan Wuyue Plaza] has officially opened! (Heavy Assets)
2. (Opened) On April 27, 2024, Xincheng Holdings [Hefei Bashang Street Wuyue Plaza] has officially opened! (Asset-light)
3. Fuzhou Pingtan Wuyue Plaza, a project of Seazen Holdings, officially announced that it will open on May 31, 2024.
4. Xincheng Holdings: Yunfu Yuncheng Wuyue Plaza announced on June 28, 2024
5. Huaxian Wuyue Plaza, a project of Seazen Holdings, officially announced that it will open on June 29, 2024.
6. Taiwen Wuyue Plaza, Tai'an City, is expected to open on June 30, 2024.
7. July 20, 2024 Wuyue Plaza, Feicheng, Tai'an
8. August 10, 2024 Sihong Sizhou Wuyue Plaza
9. Yibin Wuyue Plaza, a project of Seazen Holdings, officially announced that it will open on September 27, 2024.
10. On September 27, 2024, Suqian Siyang Wuyue Life Plaza
11. September 27, 2024, Rizhao Donggang Wuyue Plaza
12. Xining Chengbei Wuyue Plaza of Xining Holding Group is expected to open on October 25, 2024.
13. Xincheng Holdings: Changzhou Feilong Wuyue Plaza is scheduled to open on December 20, 2024
14. Xincheng Holdings: Xuchang Wuyue Plaza plans to open on December 27, 2024
Xincheng Holdings-Wuyue Plaza April rental income statistics table!
In April 2024, the rental income of Wuyue Plaza was 1.029 billion, a year-on-year increase of 24.58%, and the cumulative rental income in this quarter was 4.068 billion, a year-on-year increase of 21.58%! At this rate, this year's rental income should exceed 13 billion (generally the first quarter is the lowest month of the year)!
April is the off-season for rent, and the peak season will be in May, and it is expected that the rent will exceed 1.1 billion by then!
Pay special attention to the Taiyuan Wuyue Plaza, which opened on 4.26, and estimate the rental income of about 11 million! I don't know if this is calculated for the whole month or how to calculate it, I hope to point out.
The following is my statistics on the rental income of Wuyue Plaza in 2022, 2023, and 2024, and it can be seen that the rental income in 2023 has stabilized from October to 1 billion rental income per month!
In the economic downturn in 2023, 22 new Wuyue Plazas will be opened, which is a hard-won achievement! If you don't take land in 2023, it can also be seen that the transformation of the new city is still very resolute, and it is still very successful so far.
In 2021 and 2020, the Xincheng Performance Express did not display the rental income of Wuyue Plaza every month, and the history is relatively long, and I don't want to track it down.
In 2020, the rent was partly due to the halving of the rent due to the epidemic, so the rent was relatively low. You can also see the growth of the new city now, and the rental income in one month is now higher than the rental income in a quarter in 20 years!
Looking forward to 2024, there are still many new projects completed in Wuyue Plaza, and I am looking forward to the opening of Taiyuan Wuyue Plaza on April 26, 2024, which will open this month, and the current store contract rate of this square has exceeded 99%. I also believe that next year's rent will be relatively better!
Recently, the market has a strong sense of oppression, but the more this period we should maintain confidence, most people have been trapped, and now no one has the ability to make up the position, but many people are easy to cut meat in this position, but they have persisted until now, whether the reason for buying is still remembered.
Now financial institutions for high-quality private real estate financing has improved a lot, this year the completion of more than 20 million square meters of housing, next year to build another 15 million or so, basically no residential projects under construction. In the future, it is necessary to comprehensively transform commercial operations, and we still have confidence in Xincheng and Wuyue in terms of operational capabilities
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