方兴地产 2009 中期报告

INTERIM REPORT 2009　FRANSHION PROPERTIES (CHINA) LIMITED 15管理層討論與分析

MANAgEMENT DISCuSSION AND ANAlySIS

2. BuSINESS REvIEW (Continued)Reserved projects (Continued)Shanghai Chongming Island Project is situated in Shanghai Chongming Island, with a site area of approximately 220,000 square metres. The Group plans to develop it into a quality integrated recreation, sports and holiday resort, comprising of golf club, villa, hotel and hotel equities. The project has an estimated total gross floor area of approximately 78,185 square metres and is expected to be fully completed in about two to three years. Meanwhile, the Group has leased a site adjacent to the project, with an area of approximately 955,478 square metres. The Group plans to develop it

into a golf course.

On 30 June 2009, the Group won the bid of the site at No. 15

Guangqu Road, Beijing , for a consideration of RMB4.06 billion.

The site has an area of approximately 155,918 square metres and an estimated total overground gross floor area of approximately 280,121 square metres. The project is located at Baiziwan Section, Chaoyang District, Beijing, adjacent to the CBD area, near to a cluster of bus lines and two subway lines under construction. Enjoying convenience of transportation while adjacent to health care, education institutes and related supermarkets, restaurants, and other commercial facilities and existing high-end properties in the neighborhood, the area was named as the “only remaining prime site” in the region for its excellent location. The Group plans to develop it into a large high-

quality urban complex.

3. FuTuRE OuTLOOk After a drastic downward adjustments in 2008, China’s property market demonstrated strong signs of recovery in the first half of the year, mainly thanks to the positive effect of the economic stimulus package executed by the central and local governments. The Group envisages that, the huge demand for housing, driven by the urbanization progress and China’s traditional social culture, remains one of the factors supporting the sustainable growth of China’s property market. Meanwhile, GDP per capita of Beijing, Shanghai and other first-tier cities has equalled that of moderately developed countries. Furthermore, the proportion of the tertiary industry in Beijing has exceeded 70% of the city’s GDP. With all these fuelling the development of commercial properties, various sectors within this category, including the office building sector, the commercial retail sector and the complex sector, will grow rapidly

in those cities. Investment in the property industry, particularly the commercial property, has just made a good start, and more brilliant success will come in the future.

二、業務回顧（續）儲備項目（續）位於上海崇明島的上海崇明島項目土地面積約為220,000平方米。本集團計劃將該項目開發成為集高爾夫會所、別墅、酒店、產權式酒店於一身的濱江高檔休閒、運動、度假中心。預計總建築面積約為78,185平方米。該項目預計約二至三年時間全部完工。同時本集團還租借了與該地塊相鄰的一幅土地，佔地面積約為955,478平方米，計劃將其開發為高爾夫球場。本集團於2009年6月30日以人民幣40.6億元的價格一舉拍得北京市廣渠路十五號地塊。該地塊土地面積155,918平方米，預計地上建築總面積280,121平方米。該項目位於北京市朝陽區百子灣板塊，臨近CBD 區域，週邊有集聚的公交線路，並臨近兩條在建的地鐵線，交通非常便利，同時週邊的醫院、教育等配套設施及相關的超市、餐飲等商業設施齊備，再加上週邊現有的高檔物業使其被業界譽為該區域的「絕版黃金地塊」，地理位置極佳。本集團計劃將該項目開發成為高品質的大型城市綜合體。三、未來展望中國房地產市場在經歷2008年深度調整的階段之後，隨着中央及地方政府對經濟的刺激政策開始發揮作用，房地產市場在今年上半年已出現明顯的回暖跡象。　　

本集團認為隨著城市化進程，中國傳統社會文化對住房的龐大需求作為中國房地產市場能夠持續增長的支撑因素並未改變，同時，北京上海等一線城市的人均GDP 已達到中等發達國家收入水平，北京的第三產業比重更是超過70%，這些都成為商業地產加速發展的保證，寫字樓、商業零售、綜合體等業態將在這些城市高速增長。地產業尤其是商業地產投資的精彩歲月才剛剛開始，未來將更加輝煌。