A real estate agency giant is now developing top-tier luxury homes.
Recently, Chengdu Financial City Beichen S1 (hereinafter referred to as "Beichen") officially entered the market. The property is located in the Hedong area of the third phase of Financial City, which is under development. It is adjacent to the first and second phases of Financial City, which are the most prosperous and well-known luxury residential areas in Chengdu. A total of 108 units were launched this time, with an average price of 65,000 yuan/square meter and a total price ranging from 15.9 million yuan to 54 million yuan.
This is Beike, a real estate brokerage giant. This is the first real estate project independently acquired and managed by its subsidiary, Behome. On September 20th last year, Behome competed with more than ten real estate companies, including Greentown, Yuexiu, and Jianfa, in the Chengdu land auction market. After 82 rounds of bidding, Behome won the land parcel for 1.076 billion yuan, with a premium rate of 42.19% and a floor area price of 27,300 yuan/square meter, setting a new record for the highest floor area price of land in Chengdu at that time.
A real estate agent from Lianjia, a subsidiary of Beike , told Times Finance that Beike Chen first started internal subscriptions in mid-November, and then recently opened them up to the public.
On November 17, data released by Beichen on social media showed that the project had sold more than 1.4 billion yuan in the two days after obtaining the pre-sale permit. According to the "Zhujian Rong e-ban" under the Chengdu Municipal Housing and Construction Bureau, as of November 28, Beichen had a total of 22 units in the "under contract" or "sold" status.
Despite the lag in the online contract signing process, the market still has questions about Beike's sales performance; however, Beike has not responded to these questions.
Beike is a real estate development company under Beike, China's largest real estate brokerage firm. On July 12, 2023, Peng Yongdong, Chairman and CEO of Beike Zhaofang, published an open letter entitled "Climbing the Second Mountain and Sounding the Rallying Call." The letter mentioned that the company's strategy has been upgraded to "One Body and Three Wings," forming four business lines: brokerage, home decoration, affordable housing, and Beike Home, as well as nine administrative lines: finance, research and development, strategy, quality, human resources, users, compliance, public affairs, and collaboration.
Among them, Beike Home is a newly established "wing". Previously, a Beike representative told Times Finance that Beike Home is not positioned as a traditional real estate developer , but as a data-driven residential development service platform. Its main business is to provide integrated solutions in a "1+2" model for partners such as developers, homeowners, and construction management companies.
"1" refers to the product solution, which utilizes big data. Analysis utilizes AI algorithms to understand and uncover customer needs, leading to product positioning and design solutions; "2" refers to financial services and online/offline services , respectively. Integrated marketing services.
Specifically, funding services include models such as equal equity, debt financing, and cooperative land acquisition. However, in reality, Behome sometimes acquires land independently and operates its own projects, and sometimes it adopts a light-asset model that only provides product solutions.
In March of last year, Behome made its first appearance in the land auction market, participating in the bidding for a residential plot in Shunyi New Town, Beijing, under the name of Behome (Beijing) Real Estate Co., Ltd. As of the end of October this year, Behome has launched 17 projects in Beijing, Shanghai, Guangzhou, Chengdu, Xi'an, Hangzhou, Nanjing, Changsha, Foshan, Wuhan and other places, covering a variety of cooperation models.
Since the real estate industry entered a period of deep adjustment, the market performance has become more differentiated due to the stronger purchasing power of buyers seeking to upgrade their homes and the shift in market demand from first-time buyers to those seeking to upgrade. The upgrade market has been more resilient. Against this backdrop, Beihaojia has primarily entered the real estate development arena through upgrade projects, including several luxury projects.
In recent years, Chengdu's real estate market has demonstrated strong resilience, with housing demand standing out nationwide. Against this backdrop, Chengdu's luxury housing market has also shown robust growth since 2023. Beihaojia's first self-managed project in Chengdu has also been positioned as a luxury residence.
According to data from Sichuan Centaline Property cited by the consulting firm "Sichuan Knows," the annual sales volume of new homes priced over 10 million yuan in Chengdu was 338, 844, 1025, and 1249 units respectively from 2022 to 2024. As of October 30, 2025, the number of sales had reached 1249 units, exceeding the total sales volume for the previous year two months ahead of schedule.
For newcomers to real estate development, entering the upgrade market is a relatively safe and strategic move that aligns with market trends. Currently, Beihaojia's real estate development business has been operating for over a year and a half, with multiple projects launched across the country, in addition to Beichen in Chengdu.
According to the official WeChat account of "Beihaojia", Beilian Jingyuan (Beilian C1) in Fengxian District, Shanghai, opened for sale on October 26, offering 144 units. On the same day, 81 families applied for subscriptions, with a subscription rate of 61.1%. On August 24, China Merchants Xu in Changsha sold 208 units on its opening day, with a sales rate of 95% for its initial offering. Meanwhile, Chaotang Lanyue in Beijing opened in July, selling 1.86 billion yuan worth of units in two days, with a sales rate of nearly 90% for its initial offering, and a total of more than 300 units sold.
From providing transaction services to directly engaging in development, Beike has taken a crucial step in "overcoming its second challenge" through Beike Home, but whether it can find a new growth curve in the deeply adjusted real estate industry remains to be seen.
(Article source: Times Finance)
