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In 2024, the enthusiasm of Internet giants to "buy land" will remain undiminished.
Recently, Tencent once again made a big deal to acquire land in Beijing. According to the Beijing Municipal Planning and Natural Resources Commission, Tencent won the B4 comprehensive commercial financial service industry land and B23 R&D and design land at the north end of Xueyuan Road, Haidian District, Beijing, with a transaction amount of 64200 million yuan.
Prior to this, Tencent also won the construction of Tencent's Beijing headquarters building at No. 10 Xibeiwang East Road, Haidian District, which was completed and put into use in 2019 with a total investment of 1.8 billion yuan.
In the past two years, some real estate companies have changed from aggressive to cautious in the land market, while the enthusiasm of many technology and Internet giants to acquire land has continued to rise. According to incomplete statistics, in the past year, Huawei, JD.com, Alibaba and other companies have taken land, with a land acquisition amount of nearly 9 billion yuan.
According to Bai Wenxi, chief economist of IPG China, Tencent's acquisition of land reflects the determination and actions of Chinese Internet companies to continue to be optimistic about the Chinese market and actively invest in the future.
Tencent spent 6.4 billion yuan to buy land in Beijing
The land acquisition** is nearly 200 million lower than the previous buyer
It is reported that Tencent invested 6.4 billion yuan to win a total area of 7060,000 square meters, with a planned construction area of no more than 28550,000 square meters, with a plot ratio of 5 35. The height limit is 80 meters, and there are temporary planning requirements for three links and one level.
According to the transfer information, the plot needs to be built with an above-ground construction scale of about 7,000 square meters of bus station, which will be handed over to the relevant competent departments free of charge; The scale of all aboveground and underground buildings on the R&D and design land of the project is self-sustaining, and the self-holding period is the highest land transfer period.
It can be seen that the land purchased by Tencent has a clear nature of land use and puts forward self-sustaining requirements for the land involved in R&D. As for the use of land purchase, Tencent responded that the transaction will be mainly used to meet the company's demand for office land and provide stable and centralized office space for the company's employees.
According to public information, the plot of Xueyuan Road in Haidian District obtained by Tencent this time is the second transfer, and the previous "owner" of the plot is Unisplendour Group.
In 2019, Tsinghua Unigroup announced that the company plans to establish the "Tsinghua Unigroup Global Intelligent Science and Technology Innovation Headquarters" on the plot as the global headquarters of Tsinghua Unisplendour and the R&D center of artificial intelligence, integrated circuits, cloud computing and big data.
In that year, Unisplendour shares were 660.9 billion yuan for the total price of the land to win the right to use. However, due to the overdue payment of land development and construction compensation fees for more than 90 days, the land was returned, so it had to be re-transferred.
After nearly five years, the transaction price of the land was sold to Tencent again, which was nearly 200 million yuan lower than the amount of land acquired by Unigroup at that time.
In fact, this is not the first time Tencent has acquired land in Beijing. As early as 2014, Tencent won the No. 10 plot of Xibeiwang East Road, Haidian District, and built it into Tencent's Beijing headquarters building, which held a groundbreaking ceremony in October 2014 and was put into use in 2019, with a total investment of 1.8 billion yuan, a planned area of 77,525 square meters, and a total construction area of 308,640 square meters.
In addition to Beijing, Tencent has been actively acquiring land across the country in recent years, holding land and real estate in Shenzhen, Chengdu, Guangzhou, Shanghai, Tianjin, Wuhan and other cities.
According to incomplete statistics, in 2006, Tencent acquired land in Nanshan District, Shenzhen for the first time to build Tencent Building, which is Tencent's first self-built office building. In 2011, Tencent built the Binhai Building in the Science and Technology Park in Nanshan District, Shenzhen, as its new global headquarters. In May 2015, Tencent won a land plot in Guiwan, Qianhai to build Tencent Qianhai Tower; In 2019, shortly after the completion of the Beijing headquarters, Tencent won the DaChan Bay plot in Shenzhen at a reserve price of 8.5 billion, claiming to build Tencent's "Internet +" future science and technology city, also known as "Penguin Island".
The enthusiasm of "big factories" to buy land has not diminished
There is a diversity of uses and characteristics of land acquisition
In fact, it is not new for "big companies" to acquire land in science and technology Internet companies. Internet giants have accumulated a lot of wealth and more and more employees, and buying land and building for self-ownership can not only save costs, but also be a profitable investment.
In recent years, when some real estate companies began to acquire land prudently, Internet giants still maintained a high frequency of land acquisition. According to incomplete statistics, in the past year, Huawei, JD.com, Alibaba and many other technology and Internet companies have taken land acquisitions, with a land acquisition amount of nearly 9 billion yuan.
Among them, Huawei paid 29.46 million yuan and 291.6 billion yuan, 24.32 million yuan, 12.2 billion yuan in Nanchang, Dongguan, Anhui and Taiyuan land; JD.com won with 311.2 billion yuan won a commercial and residential land in Beijing Yizhuang New Town; Alibaba and its affiliate Ant Group in Hangzhou with 32.89 million yuan and 15400 million yuan of ** won two parcels of land.
Taking JD.com Group as an example, the data of "capital expenditure for developing real estate" in the company's financial report will be 60 in 2022$9.7 billion; In 2018, it reached 885.7 billion yuan, and the total expenditure of this part in the past six years has exceeded 26 billion yuan.
From the perspective of land area, Jingdong can also be called a "big landmaker".
In February 2023, JD.com won with 31The reserve price of 1.2 billion yuan won a plot of land in Yizhuang New Town, Beijing, directly opposite the headquarters building of Jingdong Group, which includes a residential plot in addition to commercial land; On June 18, 2021, Jingdong United Excellence won the 237 square plot of Putuo in Shanghai with nearly 10 billion yuan in the first batch of centralized land supply in Shanghai.
As early as 2009, JD.com began to buy storage land across the country, and successively won two plots of land totaling about 370,000 square meters in Jiading, Shanghai and Suqian, Jiangsu. From 2013 to 2014, JD.com accelerated the pace of land acquisition, successively purchased land in Jieyang, Guangdong, Wuhan Xinzhou, Chongqing Banan and other places, and developed projects such as e-commerce industrial parks and logistics bases; In 2012, Jingdong sold at a reserve price of 29.5 billion yuan **, successfully won the land in Yizhuang, Beijing; In 2010, JD.com bought 130,000 square meters of land in Beijing's Yizhuang Economic Development Zone, planning to build Asia's largest e-commerce center.
In addition to JD.com, ByteDance started its own "enclosure campaign" in 2019. From the acquisition of Zhongkun Square of the Great Bell Temple for 9 billion, to 204.2 billion yuan won the south block of 1 neighborhood of Pingliang Street, Yangpu East Bund, Shanghai, with a total investment of about 22.8 billion yuan in 3 years, and the total construction area of 6 projects won was nearly 1 million square meters, which were basically "headquarters level". In June 2020, Shenzhen Toutiao Technology, a wholly-owned subsidiary of ByteDance, won 108.2 billion yuan to auction a commercial land in Yuehai Street, Shenzhen.
In addition to the Internet "big factories", other technology and Internet giants have not been relentless in buying land.
In October 2020, Xiaomi started with 53.1 billion yuan to acquire a commercial land in Houhai ABP; In November 2020, Meituan 654.1 billion yuan to bid for the land in Dinghai Community, Yangpu District, Shanghai, for the construction of a new Shanghai headquarters; In January 2021, Bilibili spent 8.1 billion yuan to purchase a plot of land in Yangpu District, Shanghai, planning to build a new headquarters, which is only one road away from the land entered by the United States; In October 2021, Huawei sold at a reserve price of 29.8 billion yuan won an industrial land ...... in Longhua, Shenzhen
From the perspective of the use of land purchased, in addition to the construction of office buildings or factory parks, a small number of enterprises have also bought residential land for the construction of employee welfare housing. For example, Xiaomi and China Resources won a plot of land in Changping District, Beijing, and the Vientiane Huafu project built on the plot will be purchased by Xiaomi employees on a priority basis, and they can enjoy 92% off house purchases.
It is worth mentioning that in the early days, Internet giants set their sights on the first-tier cities of Beijing, Shanghai, Guangzhou, Shenzhen and Chao, and due to important factors such as business environment and resource advantages, Internet giants naturally settled their administrative headquarters in first-tier cities. However, the expansion of Internet companies in first-tier cities has gradually saturated the growth of users, and they need to pay higher rental costs and labor costs in first-tier cities.
In addition, compared with first-tier cities, second- and third-tier cities not only have low leasing costs, but also have more abundant human resources, according to market statistics, the number of "double first-class" colleges and universities built in Xi'an, Wuhan and Chengdu ranks among the top 10 in the country. Therefore, in order to explore new businesses, Internet companies have begun to set their sights on sinking markets such as the second and third tiers, and establish regional headquarters and second headquarters.
Shiyanshi also paid attention to the fact that in addition to the concentrated layout in super first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, as well as the opening up of new businesses in the first- and second-tier sinking markets, there are also some land sites that are the hometowns of the founders of Internet giants. For example, Robin Li set up a cloud computing center in his hometown Yangquan; Liu Qiangdong bought 300 acres of land in Suqian to build a global customer service center; Lei Jun also bought a large piece of land in Wuhan Optics Valley to build a super-large R&D headquarters.
Behind the "win-win" we also need to pay attention to the hidden risks
There are also many reasons why technology and Internet companies are keen to buy land.
Bai Wenxi believes that with the development of business, these enterprises need a large number of data centers, R&D centers, office areas and other infrastructure, and the purchase of land can better ensure the stability of these facilities**. With the continuous development of Internet technology, the business scope of Internet companies is also expanding, and more space is needed to accommodate more employees and businesses.
After years of regulation and control, the current property market is at a low point in the industry, and the cost and risk of entering the market are relatively low. Bai Wenxi said.
In addition, the purchase of land in core cities and the construction of self-owned headquarters buildings will not only help enhance the brand image, attract high-end talents, and enhance the competitiveness of enterprises, but also a future-oriented investment behavior. Although it is a large investment to spend a lot of money to buy land and build a house in a short period of time, it is still a very cost-effective transaction to extend the high beam.
These enterprises can use their own good cash flow to buy self-built properties at low prices, or absorb properties from the market at low prices for their own use, which can not only improve the stability of their office properties and effectively reduce leasing costs, but also obtain potential investment returns with low risk.
Over the years, the value of real estate in first- and second-tier cities has been unilateral for a long time, the real estate capacity has achieved value preservation and appreciation, and real estate is more convenient for enterprises to mortgage for financing when they need funds. For example, LeTV, which was in trouble with the capital chain back then, took out the LeTV Building for mortgage loans, alleviating the urgent need at that time.
However, since it is an investment, it is not completely risk-free. Bai Wenxi suggested that on the issue of balancing risks and returns, Internet manufacturers also need to consider various factors.
First of all, buying land requires a lot of money, so it is necessary to consider the company's financial situation and cash flow situation to ensure that the capital chain will not be broken due to the purchase of land; Secondly, it is necessary to consider factors such as the policy, legal environment, and market prospects of the area where the land is located to ensure the safety and rate of return of investment; In addition, issues such as land use, planning, and environmental protection need to be considered to ensure compliance with relevant regulations and standards, and to make decisions that are in line with the company's development strategy. At the same time, it is also necessary to pay attention to market changes and policy adjustments, and adjust investment strategies and risk control measures in a timely manner.
Some analysts believe that Internet companies can frequently acquire land at low prices, which is also a good thing for mutual benefit and mutual achievement. **In order to support the development of the local economy, we are willing to give a cheaper land price, or even a reserve price, and the company can also expand its business in the right place, help the development of the local economy, promote local employment and attract more talents.
On the whole, the purchase of land by major Internet companies is undoubtedly good for the long-term development of enterprises. Analysts judge that in the future, the layout of Internet giants in the real estate field is expected to be further expanded, becoming a new force to promote economic development and enterprise diversification.