The 2000 mu market of Kunming is facing the turning point in the southwest sea

category:Finance
 The 2000 mu market of Kunming is facing the turning point in the southwest sea


In the uncompleted building of a project in the West South China Sea of Kunming, there are workers who are owed money, and some vehicles are parked beside the disordered grass downstairs

2000 mu uncompleted buildings meet the turning point

On December 24, 2019, the daily economic news reported that investigation on bankruptcy and reorganization of Yunnan Renze real estate: six years of uncompleted 2000 mu market and 16.9 billion debts, who is the catcher ? u300bThis paper reports the situation of the project at that time.

As a once popular super market in Kunming, the xinnanhai project has been reported for many times since the developers fund broke and the project was closed down at the end of 2013. However, it failed due to the debt problem of RMB 16.9 billion.

In the days waiting for the project to resume work, the uncompleted xinnanhai also ushered in a group of special residents like other happy cities: almost every uncompleted building has lived in unpaid workers or scavengers, and some have even lived in it for at least three years.

Due to the influence of the epidemic situation, the first creditors meeting of Renze real estate, which was originally scheduled to be held on February 10 this year, has been postponed to March 23. It has passed the proposal for the debtor to continue business and the property management plan, and agreed to the developer Renze real estate to resume business according to law; and the Yunnan Renze real estate development company passed at the second creditors meeting on June 9 The limited company reorganization plan (Draft) (hereinafter referred to as the draft reorganization plan) let these residents who have lived in uncompleted buildings for many years see the hope of the revival of xinanhai.

On August 3, wechat company, the administrator of Renze company, announced that at the second creditors meeting of Renze real estate bankruptcy reorganization, creditors agreed to implement the draft reorganization plan submitted by the administrator.

According to Yunnan real estate.com, Shanghai Dongyuan tianmeng, a subsidiary of Oriental asset management company, will be the restructuring investor, transfer the equity of Renze real estate free of charge, and lend the restructuring funds of up to 4.5 billion yuan to Renze real estate. After the transfer of equity, Shanghai Dongyuan tianmeng will introduce Longhu real estate to continue the development of the West South China Sea project.

In fact, since 2017, Longhu has been rumored to take over the West South China Sea. At that time, in response to the daily economic news, Longhu side said that it mainly kept a high degree of attention to the project in the form of framework agreement; at the end of 2019, Longhu once again said, the West South China Sea project has always received market attention, because there are many related parties involved, the negotiation between the parties has been ongoing.

After three years, Longhu finally took over the western South China Sea in such a curved way. In an interview with the daily economic news, the relevant person in charge of Kunming company of Longhu group said that according to the draft reorganization plan, Longhu did not directly control Renze real estate, but after the restructuring investor Shanghai Dongyuan tianmeng became the shareholder of Renze real estate, Longhu built the undelivered part on behalf of Longhu, and Renze real estate was still the main development body.

However, the person in charge also said, at present, this is only a draft. The specific situation is still waiting until the land is taken has the final say. According to the former reporters statistics, there are 273 mu of undeveloped land in the West South China Sea project, and Renze real estate still needs to complete the buy back of some plots, adjustment and planning and other related work. In addition to the development of the West South China Sea, according to the reorganization plan, the commercial part of the project will also be entrusted to Longhu commercial management company for unified operation. Renze companys manager wechat public notice said, up to now, the work of removing the asset seal up has been basically completed, and we will strive to complete all the preliminary work of putting restructuring funds in two months. At that time, we will fully repay the creditors rights, resume the business operation, start the follow-up development and construction, and gradually implement the house delivery. Source: Daily Economic News Author: Chen Li, editor in charge: Wang Xiaowu_ NF

However, the person in charge also said, at present, this is only a draft. The specific situation is still waiting until the land is taken has the final say. According to the former reporters statistics, there are 273 mu of undeveloped land in the West South China Sea project, and Renze real estate still needs to complete the buy back of some plots, adjustment and planning and other related work.

In addition to the development of the West South China Sea, according to the reorganization plan, the commercial part of the project will also be entrusted to Longhu commercial management company for unified operation.

Renze companys manager wechat public notice said, up to now, the work of removing the asset seal up has been basically completed, and we will strive to complete all the preliminary work of putting restructuring funds in two months. At that time, we will fully repay the creditors rights, resume the business operation, start the follow-up development and construction, and gradually implement the house delivery.