Hongkong Listed Housing Enterprises Fuli Real Estate Has Been Exposed Quality Scandal.

Recently, Xinmin network reported that Shanghai

In fact, as early as 2 months ago, the economic reference reported that a city in Chaoyang District, Beijing, was complains by the owner of the city because of the quality problem.

In addition to the above two media reports, according to incomplete statistics from the China Economic Times reporter, many projects in Fuli real estate in Beijing, Shanghai, Guangzhou, Xi'an, Tianjin, Chongqing and many other cities have been exposed by buyers in many aspects such as housing quality and decoration.

Insiders told our reporter: "in the industry, the poor quality of the house built by Fuli real estate is an open secret, and Fuli has become a synonym for bean curd residue."

Relying on building materials and decoration, Li Sze Lim, the head of Fuli real estate, began to enter the real estate sector in 1993. According to common sense, the quality of the buildings built by Li Sze Lim with building materials and decoration experience should not be bad, but the news of Fuli's property continued to spread one after another.

From Li Sze Lim and Fuli, another important figure - tension cooperation in the development of the first village in Guangzhou village - Fuli garden began, because of low quality and immature planning and suffered a crushing defeat, the house sold half sold, and finally forced to sell to Tianhe District as a teacher's dormitory at a very low price.

Wang Song CAI

In the development of real estate, Fuli insists on "fat water does not flow outside the field", and set up its own construction company, Design Institute, supervision company and Property Management Company.

As the tension says, "the building we built is not the most beautiful, but the cost performance is the best.

The building of Fuli is often a top, and it has already sold 90%.

We buy our own land, design it ourselves, build it ourselves, sell it ourselves, manage it ourselves, and even make silt and cement ourselves.

This reduces the cost. "

However, after the cost reduction, the quality of Fuli real estate is very uneasy, and quality problems appear one after another.

According to the China Economic Times reporter, from 2002, especially after 2005, Fuli began to enter the stage of large-scale horse race enclosure, rapid expansion and rapid expansion of scale. The annual sales volume and construction area of Fuli almost doubled, and the expansion rate was once one of the main indicators of Fuli's local branch.

The result of the rapid expansion is that it brings huge financial pressure to Fuli and directly leads to Fuli's debts. Its debt rate has always been higher than the average level of the housing enterprises.

According to the report released in August this year, Fuli real estate reported that Fuli had to pay a premium of 1 billion yuan in the second half of the year, 4 billion 800 million yuan for Jianan and a net debt ratio of 104%.

At the same time, due to Fuli registered in Guangzhou, unable to issue bonds like other peers, financing channels are relatively simple.

The rate of Fuli debt has never been low. In 2008, when the average debt ratio of domestic housing enterprises was between 70% and 80%, the debt ratio of Fuli had reached 140%, which was the highest debt ratio among Chinese Housing enterprises.

Blind large-scale expansion and resulting in "lack of money" results can only make Fuli think of ways to reduce costs, so the quality of the development is naturally difficult to guarantee.

Because there is not enough financial support, it is not difficult to understand the quality scandal of Fuli's flats.