China Resources Land took over the former Suning Plaza in Hefei at a price of 657 million yuan, and the project is planned to open at the end of 2028.

In October, the pre-disclosure information from the Shanghai United Equity Exchange shows that the equity of the company corresponding to the Hefei Mengcheng Road project under China Resources Land has started the pre-listing disclosure, which is planned to be part of the underlying asset portfolio of the second phase of the commercial real estate Pre-REITs fund that China Resources Land is preparing.

The pre-disclosure information also confirms that the project is scheduled to open at the end of 2028 and will be built as a flagship commercial complex in northern Hefei. The project company involved in this pre-listing disclosure is Hefei Runyu Commercial Management Co., Ltd., whose 100% equity is held by Shanghai Hongzhe, with the actual controller being China Resources Land.

Hefei Mengcheng Road The Mixc is located at the northwest corner of the intersection of North Second Ring Road and Mengcheng Road in Luyang District, Hefei, close to the Beiwulijing Station of Metro Line 5. Its predecessor was the plot No. N1801 in Luyang District acquired by Suning Real Estate for 1.536 billion yuan in April 2018.

The project has a planned total floor area of 270,000 square meters, including 175,000 square meters of pure commercial space, with a publicly announced total investment of 5 billion yuan. It laid the foundation in January 2019 and completed the main structure capping in 2020, and was originally scheduled to open in October 2021.

In 2021, the debt crisis of Suning Group broke out, and all subsequent works of the project, including electromechanical installation, exterior wall curtain wall, fire protection system and interior fine decoration, were suspended, leading to a nearly five-year shutdown.

On April 24, 2026, the asset was first put on the Jingdong Judicial Auction Platform with a starting bid price of 1.021 billion yuan. In the third auction on June 13, the starting bid price was lowered to 653.4 million yuan. Shanghai Hongzhe Real Estate Development Co., Ltd., a wholly-owned subsidiary of China Resources Land, won the bid at about 657 million yuan, with a discount of more than 30% compared with the original appraisal price. The court requires the winning bidder to start the resumption of construction within 12 months after the transaction is ruled, and complete the full opening and operation within 30 months.

On September 20, 2026, the preliminary design drawing of China Resources New Mixc Commercial at Mengcheng Road, Luyang District, Hefei was officially released. The total construction area of the project is about 268,000 square meters, of which the commercial construction area is about 176,000 square meters, with six floors above ground and three floors underground, and a large-area sports field is added on the roof.

The second phase of the Pre-REITs fund adopts a flat structure and market-oriented operation, which is jointly established by China Resources Land and external fund managers, and introduces leading domestic investment institutions. The Hefei Mengcheng Road project will be injected into the fund as a seed asset. China Resources Land is responsible for scheme design, development and construction, and China Resources Mixc Lifestyle will be responsible for the operation in the future.

At present, China Resources Land has formed two public offering REITs platforms, namely China Resources Commercial REIT and China Resources Youchao REIT, and set up a commercial real estate Pre-REITs fund in 2025. In July 2026, the inter-institutional REIT of Chengdu The Mixc was listed on the Shanghai Stock Exchange with an asset consideration of about 10.5 billion yuan; the commercial real estate REITs in Nantong and Linyi are also under application promotion.

This article is from Viewpoint, and is authorized for release by 36Kr.