Behome Group acquired land in Chengdu for 1.076 billion yuan: Building a new real estate development model with C2M

On September 20, Beike Home (Chengdu) Real Estate Co., Ltd. successfully bid for the H12 plot in Phase III of Chengdu's Jinjiang Financial City. The plot covers approximately 24 mu (about 4 acres) and is designated for purely residential use, with a plot ratio of 2.5 and a height limit of 60 meters. The starting floor price was 19,200 yuan per square meter, and the final transaction totaled 1.076 billion yuan.

Data shows that the plot is located within the Jinjiang area of Financial City, with multiple planned schools, nursing homes, and ecological parks nearby, offering an excellent living environment and supporting facilities. Based on the plot's attributes, the project is preliminarily positioned as a high-end product. It is expected to be fully managed by the Beike Home team, with all stages—from land acquisition and positioning to design and marketing—fully reflecting Beike Home's C2M (Consumer to Manufacturer) concept.

Currently, the real estate market has shifted from primarily addressing "whether housing is available" to focusing on "whether housing is good." The previous development model, which prioritized speed and quantity, no longer meets the new requirements for high-quality development, necessitating the construction of a new development model. With years of experience in the residential services sector, Beike is optimistic about upgrading the supply side of housing. Beike believes that with technological advancements and shifting market trends, it is now possible to fully identify consumer needs through big data analysis of different homebuyers' consumption demands and behavioral preferences, design residential products that meet customer needs, and transform the supply chain through such innovative approaches.

The Ministry of Housing and Urban-Rural Development recently stated that, considering China's urbanization progress and people's new expectations for good housing, the real estate market still has significant potential and room for growth. Industry insiders believe that the future development of the real estate industry chain will focus on "good housing." Beike Home's exploration and implementation of the C2M concept align with this direction, representing one of the approaches to "determining housing based on people and land based on housing."

Since its establishment in July 2023, Beike Home has assembled a diverse and professional team, including experts in AI algorithms, data products, customer research, design and construction, and marketing strategy. The team has conducted research on hundreds of properties in key cities across the country, clarifying its positioning as a "data-driven residential development service platform" and establishing a "1+2 business model"—with "big data-supported C2M product solutions" at its core, supplemented by "flexible and diverse financial solutions" and "integrated online and offline efficient customer acquisition marketing solutions." Currently, Beike Home has cooperative projects in cities like Xi'an under this model.

$KE(BEKE.US) Group Vice Chairman and Beike Home CEO Xu Wangang stated that independently managing a project does not mean Beike Home aims to become a real estate developer. The primary goal is to better validate the implementation capabilities of its C2M product solutions and strengthen partners' trust in the "1+2 business model." Beike Home's vision as a "data-driven residential development service platform" remains unchanged, and it will use C2M to build a new real estate development model, providing comprehensive "1+2 business model" solutions to partners such as developers, construction agents, and property owners.

Notably, against the backdrop of ongoing adjustments and divergent performances in the national real estate market this year, Chengdu's new home market has stood out. Data from CRIC Sichuan shows that in the first half of the year, Chengdu's residential transaction area reached 6.1 million square meters, ranking first among key cities—60% higher than second-place Xi'an and far exceeding cities like Hangzhou, Shanghai, Guangzhou, Beijing, Suzhou, and Shenzhen. Chengdu's high-end market has also performed remarkably well. Among the top ten cities for transactions of properties priced at over 10 million yuan in the first half of 2024, as ranked by CRIC, Chengdu was the only representative from western China.

Beike Home Chengdu head Li Yujiang said, "We are developing the best products in the best locations of new first-tier cities. On one hand, we are fully prepared and confident in creating projects that meet the needs of high-end clients as 'good housing.' On the other hand, we hope to make this flagship project a success, establishing Beike Home's brand image of 'good products and good services' to boost our partners' confidence in us."