Jinmao has claimed two "land king" titles in Beijing's 2026 land market, and another Jinmao Mansion is likely to be built in Haidian after a six-year gap.
Last week, China Overseas New Town just claimed the title of Beijing's "land king" with a transaction price of about 8.4 billion yuan, and only a week later, its record was strongly broken by Jinmao.
On August 12, plots including Xiran 0034 in Sijiqing, Haidian were transferred. After more than 130 rounds of bidding, Jinmao became the final winner. The total transaction amount reached 9.761 billion yuan, with a premium rate of about 14%, and the residential floor price was about 88,000 yuan/㎡. It claimed the title of 2026 Beijing's "double champion land king" for both total price and unit price in one go.
Xiran Plot in Sijiqing, Haidian
As the first residential-related land parcel sold in Haidian this year, the entry of this plot broke the eight-month lull of land auctions in the district. The last land supply in Haidian was in December last year, when Haikai acquired the Shangdi plot with 8.456 billion yuan. This time, Jinmao's high-price land acquisition undoubtedly adds another boost to Beijing's land market.
1
From the perspective of price and regional positioning, Jinmao's top-tier "Fu" series products will most likely be settled here.
The plot indicators themselves are fully capable of supporting high-end products. Its total land area is 85,100 ㎡, the total construction area of the residential part is about 110,000 ㎡, with a plot ratio of only 1.6 and a height limit of 24 meters, which is fully customized for low-density high-end apartment products.
Plot Details
Moreover, Jinmao's development of the "Fu" series on the Xiran plot is not starting from scratch. In September 2020, Jinmao laid out its first "Fu" series product in western Haidian —— Yihe Jinmao Fu. When it opened for sale, it was extremely popular. According to reports, 202 units were sold on the first opening day, with a total sales amount of 5.06 billion yuan, which not only broke the 10-year first-opening sales record of Jinmao's "Fu" series, but also set a new record for the first-opening sales in Beijing's high-end property market. In the fourth quarter of that year, the project was announced to be fully sold out.
The Xiran plot this time is only about 2.5 kilometers away from Yihe Jinmao Fu. Whether it is the construction logic of "Fu" series products, the operation rhythm of the team, or the profile of regional customer groups, it can be said that Jinmao knows all of them very well. Building another Yihe Jinmao Fu on this basis is almost a natural and smooth thing.
The high-quality attributes of the plot also provide sufficient support for Jinmao to settle its "Fu" series here.
The plot is located in the core of Sijiqing area, only about 1.8 kilometers away from the West 4th Ring Road. Starting from here, it takes only about 15 minutes to drive to Zhongguancun or Wukesong.
Surroundings of the Plot
The living supporting facilities are already very mature. Not far to the north are Xiran Urban Ecological Park and Xiangshan International Golf Club; 1 kilometer to the east, there are large commercial complexes such as Metro, Jin Siji Shopping Center, and Golden Resources Mall not far away.
In addition, the plot itself has a certain amount of commercial supporting facilities. A nine-year consistent school operated by a branch school of Renmin University of China High School will also be built next to the plot, so the education supporting facilities are also in place.
Of course, more importantly, the new project may have a considerable market space in the future.
For one thing, there has been almost no new residential land supply in the Xiran plate in the past five years, let alone low-density plots.
For another, the plate is home to a number of established villas such as Tanxiangshan, Xishan Meilu, and Zhuzi Jie, with listed prices mostly above 120,000 yuan/㎡ and total prices generally above 30 million yuan. Although the high-end living atmosphere is strong, these luxury properties are all about 20 years old, their product design and community facilities are obviously aging, and the long-overdue replacement demand is waiting to be released.
With sufficient demand and insufficient supply, it is the perfect time for Jinmao to enter the market at this point.
However, there are also competing projects around. The most direct threat comes from Poly Xirui, 2 kilometers to the south, which has a similar plot ratio to Jinmao's plot, mainly promoting 165-275 ㎡ four-bedroom apartments, with an online signing price of about 115,000 yuan/㎡. The future selling price of Jinmao's new project may be about 130,000 yuan/㎡, so it may face the pressure of customer diversion from the Poly project in some floor area segments.
In the Sijiqing Baoshan plate a little further away, Beijing Yu · Haiyue and Haichen Yuanjing still have unsold properties for sale (with a de-leading rate of 57% and 68% respectively), but their average price is only 85,000 yuan/㎡, which has a large price gap with Jinmao's positioning of about 130,000 yuan/㎡, and the customer group overlap is low, so they do not constitute substantial competition for the time being.
Guided by the annual equity investment target of 30 billion yuan, Jinmao has been very active in acquiring land across the country since the beginning of this year. In the first quarter alone, Jinmao's newly added property value was nearly 15 billion yuan, ranking fourth in the industry. Especially in March, Jinmao acquired 8 residential plots in 7 cities including Shanghai and Nanjing. But looking closely at the premium rate, most of the plots have a premium rate of around 1%.
Only today's Sijiqing plot in Beijing is different from the norm, with a premium rate exceeding 14%. Behind such "radical" behavior is the reality that Jinmao has insufficient land reserves in Beijing. Among Jinmao's main ongoing projects in Beijing, the online signing completion rate of both Jinmao Manyao and Puyi Fengyi has reached nearly 80%, and the newly pre-sold Jinmao Manyu has a limited scale. If it wants to maintain its market share, core scarce plots like Xiran are strategic land banks that it has to fight for.
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After Jinmao won the land king title, two residential plots in Shijingshan were also successfully transferred one after another.
The Liuniangfu plot was acquired by China Overseas New Town at the base price of 2.5 billion yuan; the other Apple Park plot, after 216 rounds of fierce bidding, was won by China Merchants Shekou with 1.504 billion yuan, with a premium rate as high as 23.48%, and the transaction floor price was about 36,000 yuan/㎡.
Location of the Apple Park Plot
The Apple Park plot is extremely popular, the high quality of its transportation and supporting facilities is probably the main reason.
About 900 meters south of the plot are Apple Park Station and Yangzhuang Station of the metro, which enable transfer among Line 1, Line 6 and Line S1. Within a range of 2 kilometers, the plot also has mature supporting facilities such as Beijing West Joy City, Xilongduo, and Sam's Club. Such convenient commuting and mature supporting facilities are obviously very attractive to the main customer groups of Shijingshan property market —— first-time home buyers and first-time improvement home buyers.
Judging from the plot ratio of 2.1 and the height limit of 60 meters, the plot will most likely be developed into high-rise residential buildings of about 20 floors in the future. This product form is just adapted to the demand of Shijingshan's main customer groups.
In recent years, there has not been much residential land supply in the Apple Park plate. The last land supply was in early 2023, which was acquired by Yuexiu, and later developed into the Yuexiu · Tianyue project, which opened for sale in the same year, focusing on 98-134 ㎡ units, with an average online signing price of about 66,000 yuan/㎡, and is now almost fully sold out. The plot acquired by China Merchants today is just to its west, but the floor price is nearly 14,000 yuan/㎡ lower, and the plot ratio is nearly 1.0 lower. The cost advantage plus better living comfort leaves sufficient room for China Merchants' future product design and pricing.
Recently, China Merchants Shekou has made frequent moves in Beijing's land market.
First, on June 23, it acquired the south plot of Jiukeshu in Tongzhou with 1.022 billion yuan, planning to develop a low-density improved apartment project "China Merchants · Lake View Tianqing"; then on July 22, it acquired the east cluster plot of Daxing New Town at the base price of 720 million yuan, positioning it as a "Lanyue Series" product; today, it won the Apple Park plot in Shijingshan with a premium rate of nearly 24%. It has made three land acquisitions in two months, covering the three districts of Tongzhou, Daxing and Shijingshan, China Merchants' land replenishment speed in Beijing has increased significantly.
Today, the total transaction amount of the three plots in Haidian and Shijingshan reached 13.765 billion yuan. Coupled with the transaction amount of 1.663 billion yuan from the two plots in Fangshan and Shunyi yesterday, Beijing's land auctions have collected a total of 15.428 billion yuan in these two days, which is close to half of the total transaction amount of residential-related land in the first half of the year.
In the next month, plots such as Tuofangying 0013 in Chaoyang, Wenyuhe 2001 in Shunyi, and Songzhuang in Tongzhou will also be launched one after another. Can the popularity of Beijing's land auctions get another boost? The market is waiting to see.
This article is from the WeChat official account "Future Habitat", author: Future Habitat, published with authorization from 36Kr.