China News Service, Shanghai, October 30 (Reporter Xu Jing) The Tide East Forum was held at Shanghai University of Finance and Economics on the 29th. The theme of this forum was "Urban Renewal and Sustainable Development: Urban and Real Estate Transformation in the Context of Digital and Smart Economy." At the meeting, Yao Lingzhen, director of the Shanghai Pudong Development Bank Financial Innovation Research Institute, released a research report on "Urban Renewal Model of Commercial Buildings and Investment and Financing Options".
The report points out that domestic commercial buildings are currently facing four pressures: high inventory, aging buildings, falling rents, and rising vacancy rates. The vacancy rate of many office buildings in first-tier cities has exceeded the international warning line of 20%. The report sorts out the three mainstream update models of "non-residence change", scene creation, and business combination, and also analyzes the industry's pain points. The report recommends establishing an integrated mechanism for investment, financing, management and withdrawal, promoting models such as unified loans and repayments, syndicated loans, exploring AI+ financial dynamic credit, improving the value assessment and cost sharing system, and building a full life cycle financing framework for urban renewal.
Experts attending the meeting believed that urban renewal has broad potential, and it is necessary to rely on policy guidance, financial support, and model innovation to steadily promote the revitalization of stock and help high-quality and sustainable development of cities.
Liu Yiyan, honorary dean of Shanghai Pudong Development Bank Financial Innovation Research Institute, Shanghai University of Finance and Economics, pointed out that my country's urban development is changing from incremental expansion to stock quality improvement. How to rejuvenate old buildings, gather popularity and improve efficiency is a realistic issue currently faced. We look forward to taking the release of this report as an opportunity to promote in-depth dialogue between academia and industry so that financial resources can better serve urban development.
Professor Qin Hong, senior researcher at the National Development Institute of Renmin University of China and director of the Urban Renewal Research Center, believes that currently real estate companies are facing two major policy obstacles in shifting from incremental development to stock revitalization. Facing the future, only by deeply studying the policy connotation, making good use of institutional dividends, making up for operational shortcomings, and improving the investment, financing and asset operation system can the transformation of real estate companies be possible.
Professor Kwan Ok Lee, deputy dean of the Real Estate Department of the National University of Singapore Business School, said that urban renewal should not stop at the commercial benefit logic of a single project, but should be viewed from the perspective of the spatial structure, hierarchy and spatial welfare of the entire city. Combining empirical research from New York and Singapore, she called on Shanghai to establish a more systematic city-wide renewal strategy and achieve a paradigm shift from "single projects" to "urban structures."
Professor Qin Yu from the Real Estate Department of the National University of Singapore Business School believes that in the field of sustainable development, "good deeds should also leave a name". Only by making green features visible to consumers can a positive cycle be formed.
Professor Liu Xiuyan, deputy dean of the School of Economics and Management of Southeast University, gave a report titled "Identification of China's Urban Villages and Assessment of their Updated Economic Growth Effects." He suggested that large-scale urban village renovation be included in the overall planning, and that the urban central area renovation should simultaneously clarify land uses and supporting construction, and arrange affordable operating space for small and micro enterprises in the renovation plan.
