China Times (www.chinatimes.net.cn) reporter Li Beibei reported from Shanghai
As 2021 draws to a close, the commercial real estate industry has also experienced an unprecedented test. An epidemic that has been going on for two years has changed people's living habits and changed the business environment at many levels, prompting innovation and change in commercial real estate.
At the 9th Annual Business Of Opinions Conference held on November 2, the participants generally agreed that despite the severe impact of the epidemic, the industry has paid more attention to "business innovation" and "future opportunities".
Three opportunities in the digital wave
At the 9th Annual Conference of Viewpoint Business, Cai Yun, Secretary-General of the Commercial Culture Tourism Real Estate Committee of the China Real Estate Association, who participated in the 9th Annual Conference of Viewpoint Business for the ninth consecutive year, delivered a speech entitled "Commercial Real Estate in the Digital Wave".
"The rapid development of the digital economy and the breadth of radiation are something we didn't expect before, but the reality has now arrived." Cai Yun said in his speech that the market has forced the innovation of commercial real estate, and there are three opportunities that commercial real estate can grasp in the digital wave: first, the demand for terminals has spawned a platform for commercial real estate to provide service consumption for consumers; second, from the supply side, commercial real estate, especially shopping malls, to please consumers through digitalization. The most basic consumption (behavior) of shopping malls and ordinary people is the easiest means to capture data. So the more experience you provide to your customers, the more you can achieve the purpose of the operator (to capture data). Therefore, commercial real estate must achieve cross-industry connectivity; finally, commercial real estate must be securitized.
In fact, since "Internet e-commerce" became the keyword of the first annual conference on views and business, this trend has never changed, and now the integration of online and offline has long been deeply rooted in the hearts of the people.
For the possible changes and opportunities in the future business, Tang Anqi, deputy general manager of China Overseas Commercial Development Co., Ltd., believes that the professionalism of the commercial market will certainly be more colorful and more exciting. "The socialized trade union of commercial real estate is becoming clearer and clearer, and the concentration will become higher and higher." Tang Anqi pointed out that whether it is from its own financial strength, operational ability or future exit channels, it will require more professional and precipitated social accumulation. The rapid development of the Internet, whether it is for business or for the space of experience, the iteration cycle will be very short.
In the theme discussion of "Future Opportunities", Wang Wei, co-president of Jinke Real Estate Group Co., Ltd., pointed out that the epidemic has made consumption more inclined to community, bringing some advantages to the late-developing real estate companies to do business, that is, the development of neighborhoods and community businesses; Yang Qinfu, deputy CEO of commercial management of CapitaLand Investment (China), also believes that the epidemic is a big blow to business, but it is also an opportunity. Business operators and managers, on the one hand, must use their brains, on the other hand, they must also impress people's hearts in order to do a good job in business.
Zhou Songming, vice president of Everbright Gerber and chief operating officer of Everbright Anshi, pointed out from the perspective of asset management that "the future should be seen more clearly", saying: "If business is to be done, it must be considered from a strategic point of view, and it must be scaled." Zhou Songming pointed out that if you don't do scale and control resources, you actually have no influence. And also to consider exiting, unless you have been operating, otherwise exit is more difficult.
How to monetize traffic in business scenarios?
The industry innovation brought about by technology and digitalization, as well as the innovative model that pays more attention to operation and space, is accelerating the transformation of the ecology of commercial real estate in all directions, and it is becoming more and more extensive. In the "industry innovation" session, Wu Di, vice president of Guangdong Pearl River Investment Co., Ltd., said that when doing business diversification, it must be linked to investment returns, because in the end, business still has to connect with the market. It emphasizes that business innovation should be based on its own operational capabilities, and at the same time, it should be fully integrated with the capital market and investment returns.
"Activating the ecology is a very important thing." Li Chengjie, co-chief development officer of Fosun Group, president of Fosun Star, and senior vice president of Fosun Hive, believes that a large part of the commercial scene to achieve traffic monetization is its own "what". In the process of innovating the industry, "first of all, you must understand what you want; second, you must understand that you have nothing, and the logic of 'both-to-want' must be clear; third, you must understand what you can afford to lose; and finally, you must understand what can measure your success." If you think about these four things clearly, any innovation, any innovation based on the existing situation can lead to better prospects. ”
Li Xiang, chief strategy officer and president of the strategic business department of Greenland Financial Holding Group, revealed that the transformation of commercial real estate is a problem that Greenland has been thinking about for all these years: "Asset-light does not mean zero assets, and the most important asset of asset-light is data. It said that the work at the three ends of a (corresponding field) b (corresponding goods) c (corresponding people) is not completed by relying on operators, which is an open ecosystem.
Continuous innovation and breakthrough are the unique charm of commercial real estate. During the discussion session of "Business Strain", Xu Bingxuan, Executive Director, Executive President and Clubmed CEO of Fosun Travel, Yang Bin, Deputy General Manager of Bailian Asset Holdings Co., Ltd., Zeng Xian, President of Outlets (China) Co., Ltd., Ao Yang, General Manager of Fangyuan Commercial Management Group, Zhu Lili, Vice President of Fantasia Business Travel, Dong Jun, Deputy General Manager of Shangkun Group Commercial Assets Division and General Manager of Rongxin Shangkun Center, and Ni Min, General Manager of Commercial Management Division of Dongdu International Group, invested in the transformation of existing assets. Commercial real estate how to focus on digitalization, how to import business formats and other issues to discuss.
A new way of stock in the era of asset management
At present, stock operation and asset management, reits are undoubtedly hot topics in commercial real estate, especially in the current environment where capital pays more attention to large asset management and new economy, and the pilot of public reits is constantly advancing.
Yu Minjun, chairman of Jinhe Group, said that capital is now optimistic about the new economy such as data centers and logistics, but "the ultimate asset still depends on the operational ability, whether it can really enhance the value, or whether the cash flow can be improved, this is the principle that will never change." Who will play is the real core competitiveness."
Wu Bert, managing director of Hopson Real Estate Fund Center, pointed out that traditional business has recently been a bit discouraged by the new economy, but there are still great opportunities for commercial stock. "This wave is not the first time it will appear, nor will it be the last, how do we grasp this wave?" Hubert pointed out that traditional offices and businesses can also serve them.
Lu Feng, Managing Director of the Real Estate Department of CITIC Capital, Yang Ji, Founder and Vice President of Woqu, Zhang Yahan, Founding Partner and CEO of Yanhe Capital, Pang Xiaoyun, CEO of Kaibao Shangfa, and other guests also expressed their views and experiences on the topic of "Asset Investment and Financing Window in the Stock Era".
Ye Jiansheng, founder and CEO of BirdBird Capital, Lin Shubin, Managing Director of Greater China, Japan Real Estate Research Institute, Fang Xudong, Deputy General Manager and Managing Director of Fund Management Department of Landsea Qingshan Capital, Sun Bo, General Manager of The Asset Management Advisory Line of World Union Bank Group, and other guests conducted an in-depth dialogue on topics such as asset management and reits.
Starting from the policy of "renting and selling at the same time", Chen Yang, deputy general manager and general manager of asset management business of Sino-Ocean Capital, analyzed the prominent problems of new citizens' housing and the sustainable development of the rental housing market.
In addition, Fang Xudong, deputy general manager and managing director of the fund management department of Landsea Qingshan Capital, introduced the urban renewal and business practices of Qingshan Capital, while Hu Mao, president of iwg Group China, introduced iwg's strategy and response in the new era from the perspective of flexible office leading office reform; and Jiang Qinyuan, president of Sunshine Haitian Parking Industry Group, elaborated on the exploration of digitalization and financialization from the perspective of parking industry.
On the same day, the opinion index also released the "Performance Index • 2021 Annual Commercial Real Estate Performance" research report, which takes stock of China's most representative and iconic commercial projects, enterprises, brands and teams in 2021. Among them, CR Vientiane Life ranked first, followed by Hang Lung Properties and CapitaLand Group.
The 2021 Viewpoint Business Annual Conference is hosted by Viewpoint Real Estate Agency and co-sponsored by China Times. Since 2013, the Annual Conference of Views Business has been held for nine consecutive years and has now become one of the benchmark summits for the real estate industry, especially in the commercial real estate industry.