In Beijing’s Tongzhou district, a European-style villa complex named “Tian Di Mei Shu,” which has been idle for 20 years with only a few households residing, has suddenly become the focus of the real estate market. Hundreds of potential customers braved the scorching sun to queue up for a chance to visit the 191 foreclosed properties that will be auctioned starting on August 12. With starting prices ranging from 50-80% of the market value of nearby second-hand homes, this may seem like a perfect opportunity for a bargain, but it hides complex historical issues, substantial debts, and unforeseeable pitfalls, leaving the fate of this “mysterious” land shrouded in uncertainty.
According to a report by “China Real Estate News,” on July 21 at 8:55 am, under the oppressive summer heat on Yunjing Nan Street in Liyuan Town, Tongzhou District, Beijing, hundreds of potential customers had already formed a long queue outside the “Tian Di Mei Shu” project, eagerly waiting for the official opening of the site visit.
“It has been abandoned for 20 years, I heard that only 4 households live there, and the security guards are very strict, not allowing outsiders in, which makes it particularly mysterious. I came to visit this time just to satisfy my curiosity,” expressed a local resident. “Despite the Beijing Modern Music Academy students next door changing over the years, it’s always dark over there.”
The auctioned properties include garages, commercial spaces, and residential units ranging in size from 36 square meters to 1400 square meters, with most residential units ranging from 199 to 340 square meters, with starting prices of approximately 20,000 to 30,000 yuan per square meter, significantly lower than the average price of nearby second-hand homes ranging from 35,000 to 50,000 yuan per square meter.
However, beyond the hustle and bustle of the visit, industry insiders have already poured cold water on the enthusiasm: the project currently has no gas supply or central heating. Additionally, successful bidders will have to cover 20 years of overdue property fees, prepay value-added tax, and face difficulties in obtaining property ownership certificates. This could entail considerable additional expenses.
Notices posted by Tian Di Mei Shu’s property management also emphasize that the property area is subject to final verification, and buyers must bear the risks themselves. The key issue is that the court only issues rulings and enforcement notices to assist in the auction process, while whether the transfer of property rights can be successfully completed is the responsibility of the buyer to seek and handle independently at the relevant supervisory authority. Furthermore, due to the lack of survey plans which developers are unwilling to provide, there is uncertainty regarding the validity of individual property ownership certificates.
A representative from a foreclosure agency stated, “This time, over 400 properties will be released for auction, with the initial batch being 191 units. Although the starting prices are low, there usually is an increase during the bidding process. We estimate that the subsequent properties will be priced based on the results of the initial auction.”
The representative mentioned, apart from the actual price increase, due to well-known reasons, successful bidders will have many issues to resolve after the auction.
“This is the first time Tian Di Mei Shu has unveiled its ‘mysterious veil’ to the public,” said local residents, indicating that the project’s long period of abandonment has led to various rumors circulating about its backstory. Tian Di Mei Shu’s fate is deeply intertwined with the developer, Beijing Hengdi Long Real Estate Development Co., Ltd., established in 2001.
The real estate company, controlled by Hong Kong’s Yisheng Asia Limited (holding 81%) and Beijing Jiayue Tiandi Economic and Trade Co., Ltd. (holding 19%), has multiple plots of land under its name, long associated with rumors involving a fallen official with the surname Fang from the Liyuan Town government in Tongzhou District.
According to the criminal judgments of Beijing First Intermediate People’s Court and Beijing High People’s Court, the official Fang was involved in various illegal activities from 1996 to 2005 to seek significant economic gains, including providing false documents and illegal land transfers. Despite the defense claiming that compensation for land had been paid without causing collective economic losses, the court ultimately found that his actions severely violated collective land rights, constituting a crime. Fang was sentenced to 20 years in prison for multiple crimes, with his term set to expire on November 5, 2025.
While commercial information does not directly show the connection between Fang and Beijing Hengdi Long, this historical background undoubtedly adds footnotes to the “mystery” surrounding Tian Di Mei Shu and raises more doubts about the clarity of property rights for potential buyers.
The current auction of Tian Di Mei Shu stems from a protracted financial loan dispute. According to a ruling by the Intermediate People’s Court in Shenzhen, Guangdong Province, a loan agreement dispute between Shenzhen Sidaoke Investment Co., Ltd., and Beijing Hengdi Long had already reached legal validity in the Supreme People’s Court of China.
As Beijing Hengdi Long refused to comply with the obligations stipulated in the legally binding documents, Shenzhen Sidaoke applied for compulsory enforcement to the court, demanding payment of 129 million yuan and accrued debts, including interest, during the delay in performance.
During the enforcement process, the Intermediate People’s Court in Shenzhen sealed multiple properties under Beijing Hengdi Long, including the land of Tian Di Mei Shu, due to the company’s failure to fulfill its obligations. The court finally ruled for the auction and sale of the involved properties to settle the debts.
Despite the tempting low prices, whether this mysterious villa complex of Tian Di Mei Shu, abandoned for 20 years, can truly “rebirth” through this foreclosure remains full of uncertainties.