8 years can't be dismantled! Exploring the renovation of the first villa in OCT, the former residential area has become idle wasteland?

Southern Metropolis Daily

2024-06-17 12:04Published on the official account of Guangdong Southern Metropolis Daily

Most of the old houses in Shenzhen can't escape the fate of being "demolished", but it is rare that the houses have not been relocated for 8 years, and even the transition fee cannot be paid.

At the end of April this year, Zhou Sheng reported to the reporter of Nandu Bay Finance Society that his house in Liangantian New Village, Longgang had been demolished 8 years ago, but he has not been able to live in the resettlement house, and even the transition fee due to him has not been received as scheduled. At that time, the relevant staff of the OCT Urban Renewal Company, the project development unit, said in an interview with a reporter from the Bay Finance Society that the reason for the untimely payment of the transition fee was related to the downturn in the real estate industry, and that the company was also actively promoting solutions in many ways for the progress of the project.

But a month later, Zhou Sheng told the reporter of the Bay Finance Society that he had not received the transition fee for the first half of this year, and the project development unit did not give him a relevant response.

So what does the area where Zhou Sheng's demolished house look like now? What is the detailed progress of the demolition? Recently, a reporter from the Bay Finance Society visited the Liangantian New Village project in Longgang District to explore the current situation of the first villa renovation in Shenzhen.

Field investigation site: overgrown with weeds, there are excavator operations

According to public information, the urban renewal unit of Liangantian New Village was included in the second batch of plans of the 2015 Shenzhen Urban Renewal Unit Plan in July 2015, and the project is located in Liangantian Community, Pinghu Street, adjacent to Pingyan Railway in the north, Ping'an Avenue in the south, Liangbai Road in the east, and Danping Express in the west.

In October 2016, Zhou Sheng signed a "Housing Demolition Compensation and Resettlement Agreement" with the old renovation and development unit, and his house was demolished soon after.

Before it was demolished, the buildings in the urban renewal unit of Liangantian New Village were mainly factories and three-storey villas with a uniform style and neat planning, which was also the first villa renovation project in Shenzhen.

The reporter of the Bay Finance Society recently visited the project site and can see that the scope of the planned demolition of the urban renewal unit of Liangantian New Village has been completely blocked and covered, and most of the villas have been razed to the ground, and the appearance of the former "villa group" is no longer visible.

However, the buildings near the edge of the road have not been demolished, and the words "demolished" on the gate can be seen when you get closer, and these buildings are uninhabited and appear to have been abandoned for a long time.

It is worth mentioning that when the reporter of the Bay Finance Society visited, he noticed that the excavator inside the project was working, but the entrance gate of the project was locked and could not enter, and it could be seen that there were several staff members at the site.

In terms of project progress, the relevant staff of the development unit, OCT Urban Renewal Company, mentioned in an interview with a reporter from the Bay Finance Society that the Pinghu Liangantian New Village project has started signing work since 16 years, and the current signing rate has reached 99.5%, which is close to 100%. From the 16th year to the 2023 year, the project has never paid the transition fee without interruption. On the one hand, the reason for the slow progress of the project is related to the "nail households", and on the other hand, the stagnation of the project progress due to the unfinished adjustment project of the water source protection area.

In his opinion, Liang'antian New Village is located in the non-core area of Pinghu in Longgang, and the fifth phase of the Shenzhen Metro is planned to have Line 17 or set up a station near the project, and the developer may want to "drag" the subway to open before selling the house, which can maximize the benefits in terms of commercial value, but this is just his personal speculation.

In fact, the nearest subway station of the urban renewal unit of Liang'an Tian New Village is Lilang Station on Line 10, with a straight-line distance of about 2.3 kilometers and a walking distance of about 3.7 kilometers. There are many industrial zones and urban villages that have not been demolished around the project, and the urban appearance is relatively old, and some areas of the old renovation project are also close to Danping Express, which is easily affected by noise.

The nearest community to the old renovation project is Kaisa Mingcui Garden Phase III, the average listing price of the community on the current intermediary platform is 33,800 yuan per square meter, and the total listing price of 77.41 square meters of two-bedroom and two-living room houses is 2.45 million yuan.

A number of projects have suffered a crisis of confidence, slowed progress or halted

Regarding the delay in the issuance of the transition fee, the staff of OCT Urban Renewal Company replied to the reporter of the Bay Finance Agency, saying that due to the downturn in the real estate industry, the bank has increased the supervision of the company's funds, and in order to ensure that the risk of investment funds is controllable, the issuance of the transition fee for the old renovation project of Pinghu Liang'an Tian New Village in the first half of the year has been suspended.

In fact, in addition to the Longgang renovation project being exposed to "arrears of transition fees", many of OCT's projects in Shenzhen have also been repeatedly exposed to problems such as "work stoppage" and "quality defects", and the trust of the developer as a central enterprise has encountered a crisis.

At the end of last year, the owners of the OCT Hetangli project were dissatisfied due to the delay in delivery and the quality of the housing, and some owners publicly issued a notice of refusal to accept the house; The Jiuyue Plaza project undertaken by OCT in Guangming was also reported to have been suspended last year.

The Pingshan Administration of the Shenzhen Municipal Bureau of Planning and Natural Resources replied that due to the developer's own reasons, the construction progress of the project is currently slowing down, and the land user is studying and promoting the construction plan; In May this year, Sihai Huating, a project of OCT in Longhua, also encountered centralized complaints from owners due to quality problems.

Judging from the performance of OCT A, OCT A's performance in the past two years has also been unsatisfactory, and it has been losing continuously since 2021. According to the company's financial report data, OCT A's net profit attributable to the parent company from the first quarter of 2022~2024 will be 10.905 billion yuan, 6.492 billion yuan and 352 million yuan respectively. In OCT A's 2023 financial report, it was mentioned that "the main reason for the loss is that the amount of real estate business income carry-over and gross profit margin decreased compared with the same period in 2022, and asset impairment provisions were made for some projects." ”

In order to alleviate the current situation of continuous losses and performance pressure, OCT has taken measures to sell part of the equity of the project, and some of the projects have been suspended due to financial problems.

In the past year, OCT has also listed for sale some of its subsidiaries, including 51% equity interest in Chongqing Kangxingrui Environmental Protection Technology Co., Ltd., 51% equity interest in Kanghong (Yantai) Environmental Protection Technology Co., Ltd., 22.2% equity interest in Hong Kong Panxu Intelligent Co., Ltd., and 0.81% equity interest in Shenzhen Huashengda Investment Holding Co., Ltd.

Writing/Photography: Sun Yang, reporter of Nandu Bay Finance Agency

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