Youngor Announced The Layout Of Health Care Field

On March 3, Youngor announced that it had won the state-owned construction land use right of cx06-05-02a / 02E plot in Haishu District at the price of 323.5795 million yuan, which was used to promote the transformation of real estate business to health care, pension, health town and other emerging related industries.

It is reported that the plot is located in jishigang Town, Haishu District. It is mainly used for elderly care institutions, with an area of 81712.00 square meters (122.568 mu). The lease term is 40 years of commercial land, and the plot ratio is between 1.5 and 2.0.

As one of Youngor's main businesses, the real estate sector has always occupied an important position. According to its latest announcement of annual performance increase in 2020, the real estate sector has a revenue of about 5.192 billion yuan, accounting for nearly half of the total revenue. This land acquisition further demonstrates Youngor's determination to enter the field of health care. Prior to that, Youngor has also won plot 1 of Ningbo cichanghe kanglv town project (with a planned building area of 164800 square meters) and plot 2 of Ningbo cichanghe kanglv town project, and cooperated with Greenland Group to develop Ningbo Yager kanglv town project (now known as lvyayuan township).

Yang Kan, an analyst with Ping An Securities, said that with the deepening of domestic aging, the promotion of middle and high-end pension consumption by the first batch of middle-class groups, and the continuous increase of pension support policies, the development space of pension real estate industry is worth looking forward to. However, due to the high cost of land and the long period of capital withdrawal, the phenomenon of "paying more attention to sales than service" is common, and the business model of most enterprises is not clear.