Curve layout in Qingdao main city supply disruption area, Hisense Real Estate to develop Shuangshan land parcel

Viewpoint Network Hisense’s agency and construction business takes another step forward.

On March 10, Hisense Real Estate announced it won the bid for the Shuangshan Urban Renewal Project (residential and commercial office) in Shibei District, Qingdao, providing full-process management services for real estate development.

It is reported that the newly awarded land, SF0901-38 in Xindu Center, is located south of Ningxiang Road and east of Fuzhou North Road in Shibei District, covering approximately 24,600 square meters. As a key benchmark project for urban renewal in Shibei District, the land is developed by Ronghui Group.

This time, Hisense will fully benchmark the excellent product strength of the Junyue series along Laoshanshizhangcun River, creating a pure improvement residential area with a building area of about 120-160 square meters, aiming to establish a new quality living standard in the Xindu Center area.

Strategic Entry

According to Viewpoint New Media, there has been little land supply for residential purposes in the Xindu Center area over the years. In 2025, only two parcels will be newly released: the Shibei GuoPin Market land and the Shibei Shuangshan commercial and residential land.

In fact, due to the scarcity of residential land resources, both parcels were adjusted from commercial land control plans.

Among them, the GuoPin Market land in Shibei was repeatedly auctioned unsuccessfully and underwent multiple planning adjustments, from initially high-density mixed-use commercial and residential to low-density pure residential improvements, before being sold to Poly United Qingtie at a bottom price of 722 million yuan.

The Shuangshan commercial and residential land was adjusted from three commercial and business land parcels, and the final project put up for auction is the Xindu Center mixed-use SF0901-38 land.

This land covers about 24,600 square meters, with a planned construction area of approximately 61,600 square meters, a floor area ratio of 2.5, building density of 30%, and green space ratio of 35%.

According to the pre-approval public notice of the land control plan adjustment issued by Qingdao Natural Resources and Planning Bureau, the adjusted residential building area shall not exceed 55% of the total building area, and the hotel area shall be no less than 3,000 square meters.

The land was ultimately acquired by Qingdao Beichengfa Industrial Development Co., Ltd. (Ronghui Group) for 591 million yuan, with a transaction floor price of 9,600 yuan per square meter.

Now, Hisense Real Estate is entering this core location through agency construction. In addition to residential projects, the land’s requirements include building a community service station (1,000 square meters), a small multi-functional sports venue (820 square meters), a childcare center (500 square meters), 70 public parking spaces, and a 10KV transformer (distribution) room. Building height must meet the requirements for Shuangshan’s landscape protection.

Although new residential land supply in the area remains scarce, several new projects have entered the market in recent years. The Xindu Center area has launched projects such as Oceanwide·Fanhuali and Heda Tangyue, filling some gaps in the new housing market.

Notably, the Oceanwide·Fanhuali project was also revitalized through agency construction.

In 2018, three state-owned consortiums in Shibei acquired the original Seven Colors project land, but the project stalled and remained unsold for years. In August 2024, Oceanwide took over and restructured the project, relaunching it. According to Oceanwide, the first sale after reopening generated 166 million yuan.

Heda Tangyue was developed on the Wuxi Prefabricated Factory land at the northern end of Xindu Center, acquired by Heda in 2023. The project opened in 2025, with an average selling price of 21,000 yuan per square meter.

Additionally, Hisense’s future competitors for the Shuangshan project include the undeveloped GuoPin Market land managed by Poly.

Although land supply around the area remains tight, the new housing market is still competitive.

Expansion of Portfolio

Hisense officially announced that this time, through agency construction, it will fully benchmark the excellent product strength of the Junyue series along Laoshanshizhangcun River, creating a pure improvement residential area with a building area of about 120-160 square meters, aiming to set a new quality living standard in the Xindu Center area.

With over thirty years of experience in real estate development, Hisense Real Estate has handled high-end and improved residential projects in Qingdao.

According to Viewpoint New Media, the “Junyue series” is Hisense Real Estate’s high-end product IP, with previous flagship projects such as Junhui and Junlan. Especially in the Laoshanshizhangcun River area of Laoshanshi District, Hisense has developed projects like Hisense·Puyue, Hisense·Junxi, and Hisense·Jingyue.

Currently, Hisense Real Estate’s new projects in this area include Hisense·Anlan and Hisense·Jingguan. The former was acquired after a fierce 282-round auction on October 30, 2025, with a premium of 25.77%, while the latter was added in January 2025 in Yanshan Technology Eco-city.

As Qingdao’s various districts’ real estate markets heat up, the pressure on developers to acquire land is also increasing. Hisense disclosed that agency construction has become a strategic business for Hisense Real Estate.

Hisense has established a full-process closed-loop capability from early planning, engineering construction, cost control, marketing, to completion, delivery, property services, and community operation.

Leveraging the resources of a state-owned enterprise to acquire high-quality land and profit from property development is a consistent approach in the industry.

Geographically, Hisense’s presence is evident across Qingdao’s “East Lao West Pearl” prime land areas.

For example, the Hisense·Moxiangju project in the core area of Qingdao West Coast New Area was transferred from local developer Haiyi Hui.

Hisense Real Estate has been entrusted with consulting services from the early project stage, and the partnership has since expanded to include agency construction and sales for the entire project.

In addition, other residential projects such as Hisense·Disen Villa, Hisense·Urban Yipin, Hisense·Urban Guoling, and Hisense·Dongshan Jun are also managed through agency construction.

This latest acquisition of the Shibei District Shuangshan Urban Renewal Project (residential and commercial office) full-process management service marks another effort by Hisense Real Estate to penetrate the core area.

It is worth noting that the company’s agency construction business also includes Hisense’s new R&D center, Hisense Changsha Intelligent Manufacturing Base, Hisense Thailand HHA Industrial Park, GuoXiang Center, and other industrial parks and office buildings.

In other words, the project requirements for supporting facilities in the Shuangshan land may not be a trial for Hisense Real Estate but part of its ongoing strategic expansion.