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China's real estate boom continues in November(12/18/07)
BEIJING, Dec. 18 (Xinhua) -- China's real estate sector is continuing to boom despite tighter monetary policy, at least in terms of total fund inflows, the latest government statistics show.
Also, more foreign capital is going into the property market.
Just over 3,204 billion yuan (435.4 billion U.S. dollars) flowed into China's property sector during the first 11 months of the year, up 40.8 percent. This figure includes the value of new contracts.
Overseas capital flows into real estate surged by 71.9 percent over the same period last year to 53.9 billion yuan. Overseas capital includes investment from Hong Kong and Macao.
The data was released by the National Bureau of Statistics (NBS) Monday in its November national real estate climate index report, which tracks real estate trends in China.
The real estate climate index rose slightly in November to 106.59, up 0.85 points from October and up 2.67 points from last November.
Completed investment by property developers rose more than 30 percent to 2,163.2 billion yuan in the first 11 months. Of that total, investment in residential buildings was 1,544 billion yuan, up 33.7 percent.
Within the residential category, 69.3 billion yuan went into affordable or subsidized housing in the first 11 months, up 31.7 percent. That figure was just 3 percent of total investment in housing.
The government is still trying to boost programs to provide affordable housing for low-income households. Last month, the government urged local authorities to reserve at least 70 percent of the land designated for residential construction for low-rent units or smaller, cheaper homes.
Although investment and capital in real estate increased in value terms in November, government efforts to deflate the property bubble seemed to be taking effect. The floor space of marketable, unsold buildings dropped 4.5 percent to 117.97 million square meters, which could be the result of developers building more affordable homes and fewer luxury properties.
China has raised the benchmark one-year lending rate five times this year amid efforts to curb investment growth and slow the economy.
Editor: Wang Hongjiang
[Suggest to a Friend] [Print]
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2008年8月6日 星期三
Top 100 real estate firms announced
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BIZCHINA / Top Biz News
Top 100 real estate firms announced
By China Real Estate Top 10 Research Team (China Daily)
Updated: 2006-03-31 11:04
A research report of the top 100 Chinese real estate firms was recently released in Beijing, providing industry insiders and investors with a general outlook of the industry.
The China Real Estate Top 10 Research Team conducted the research, a joint programme established by the Enterprise Research Institute of Development Research Centre of the State Council of China, the Institute of Real Estate Studies of the Tsinghua University and the China Index Academy.
The study has been conducted for three consecutive years, beginning from 2004.
The report will have a strong impact on domestic financial institutions and local governments when they decide to lend loans or sell land to these companies.
The 2006 China Top 100 Real Estate Firms Research started in October 2005.
In addition to enterprise scale, development potential, profitability and comprehensive strength, which are the major features studied in 2004 and 2005, an enterprise's financial liquidity and social responsibility are also considered in this year's report.
The results have become one of the important standards for judging the operational strength of Chinese real estate enterprises.
About 50 international financial institutions, including Merrill Lynch, regard this report as an important frame of reference to help them choose investment partners in China.
General outlook
Among the top 100 real estate firms, 29 are located in East China, 29 in North China and 26 in South China.
Compared with the previous year, the number of top 100 real estate firms dropped by 10 in East China, indicating an adjustment of the overheating housing market in the region. However, two more firms were added in North China, and eight more in South China.
Combined sales revenues of real estate firms among the top 100 in the three regions reached 188.34 billion yuan (US$23.4 billion), accounting for 14.26 per cent of the nation's total.
The top enterprises in North China, East China and South China take up 5.78 per cent, 4.51 per cent and 3.97 per cent of the country's market share respectively.
Along with their growing scale, the market share of the top 100 firms as a whole is on the rise.
The total assets scale of the top 100 real estate firms has increased, with the emergence of a number of flagship enterprises.
Among the top 100, seven companies boast assets of more than 20 billion yuan (US$2.48 billion). The combined assets of these seven firms total 203.42 billion yuan (US$25.27 billion), which accounts for 33.45 per cent of the total assets of the top 100.
Through mergers and acquisition, the Beijing Capital Development Holdings Co Ltd has become the largest-scale enterprise, with assets totalling more than 50 billion yuan (US$6.21 billion).
Combined sales revenues of the top 10 firms, in terms of comprehensive strength, reached 68.66 billion yuan (US$8.53 billion) last year, accounting for 5.2 per cent of the nation's market share.
In 2004 and 2003, sales revenues of the top 10 firms stood at 50.55 billion yuan (US$6.3 billion) and 35.68 billion yuan (US$4.44 billion) respectively, taking up 4.87 per cent and 4.65 per cent of the industry's total sales revenues.
Total sales revenues of the top 10 increased 35.84 per cent and 92.45 per cent from 2004 and 2003, a trend showing the increasing influence the top 10 enterprises have on the Chinese real estate market.
Predicting a sustained growth of the industry, most of the real estate firms are actively reserving land resources for future development.
Last year, reserved land area of the top 100 firms reached 402.11 million square metres, with 43 enterprises each having a reserved land area between 1 million and 5 million square metres. Nine enterprises each have a reserved land area of more than 10 million square metres, up from 2003 when there were only five such companies.
Take China Vanke Co Ltd as an example. The company's newly built floor space was 2.6 million square metres last year. At present, it has a reserved land area of more than 10 million square metres, proving that its reserves can sustain development for three years, if the existing developing scale is maintained.
Based on the sufficient land reserves at hand, the top 100 firms reported they are planning to develop projects with a total floor space of 283.13 million square metres in the next few years. Seven companies each have plans for more than 10 million square metres, and another 36 said they have planned floor space between 1 million and 5 million square metres.
Based on their competence in risk control, the top 100 real estate firms showed an incredible profit-making aptitude in 2005.
The average annual return on total assets, return on equity and sales profit rate of the top 100 enterprises during the 2003-05 period were 7.83 per cent, 18.68 per cent and 17.4 per cent respectively, according to the research report.
In 2005, there were 33 firms among the top 100 with a return on total assets of less than 5 per cent. However, 20 enterprises realized a return on equity between 10 and 20 per cent and 38 companies achieved a sales profit rate between 10 and 20 per cent.
The research report also indicates the net profit of the enterprises is rising steadily.
In 2005, 58 per cent of the top 100 realized a net profit of more than 100 million yuan (US$12.43 million), whereas the ratio was 48 per cent in 2004 and 34 per cent in 2003.
On the other hand, the proportion of enterprises with a net profit of less than 100 million yuan (US$12.43 million) was reduced to 42 per cent last year, down from 52 per cent in 2004 and 66 per cent in 2003.
Increased profits strengthened the enterprises' financial liquidity. The average asset liability ratio was 63.84 per cent, 65.67 per cent and 66.35 per cent in 2005, 2004, and 2003 respectively, showing the firms' increasing abilities to pay back loans and to resist financial risks.
As a pillar industry in China's economy, the real estate sector pays more taxes to the State.
The total amount of taxes paid by the top 100 real estate firms reached 19.07 billion yuan (US$2.37 billion) in 2005, according to the research report.
Half of the enterprises each paid more than 100 million yuan (US$12.43 million) in taxes. In addition, there are two companies with a tax payment of more than 1 billion yuan (US$124.3 million) each. Taxes paid by China Vanke Co Ltd even reached 1.4 billion yuan (US$174 million).
Top 10 ratings
According to their indices in scale, growth potential and profitability, the China Real Estate Top 10 Research Team rated the specific top 10s for the top 100 Chinese real estate companies.
China Vanke Co Ltd and China Overseas Land & Investment Ltd stood side by side in the first place of the comprehensive strength rating, followed by Hopson Development Holding Ltd, Beijing Capital Development Holdings Co Ltd, Poly Real Estate (Group) Co Ltd, Guangzhou Henda Group, Dahua (Group) Co Ltd, GreenTown Real Estate Group Co Ltd and China Merchants Property Development Co Ltd and Forte (Group) Co Ltd.
In comprehensive strength, the top 10 firms have some common traits, along with exploring operational modes with their own unique characteristics.
For example, China Vanke focuses its core business on housing development for the common people. Through co-operation with other partners, it has increased its land reserves and increased its marketability.
China Overseas Land & Investment Ltd targets high-end customers in the cities. Its competitiveness comes from continuous innovations and brand building.
Forte Group, however, focuses its operations in Beijing and Wuhan, while China Merchants Property Development Co Ltd has launched 18 projects in nine big cities in China, with a business scope covering high-end office buildings and residential projects geared toward various consumer groups.
Guangzhou Henda has placed its operational emphasis on forging strategic partnerships with other famous-brand companies, as well as controlling costs.
Increasing land reserves through purchasing, government land auctions and co-operation with partners are the common features of the top 10 firms.
Through purchasing and participating in government land auctions, Poly Real Estate's land reserves reached 10 million square metres last year.
With respect to the assets scale, Beijing Capital Development Holdings Co Ltd ranked first on the top 10 list, with assets totalling more than 50 billion yuan (US$6.22 billion), followed by China Vanke, Shanghai Industrial Real Estate, China Overseas land & Investment and Shandong Luneng Estate.
The 10 largest enterprises have combined assets of 186.6 billion yuan (US$23.2 billion), accounting for 38.1 per cent of the total of the top 100 firms.
Their combined sales revenues hit 49.94 billion yuan (US$6.21 billion), taking up 31.63 per cent of the top 100's total.
In addition, their total floor space under construction stands at 29.17 million square metres, which accounts for 33.76 per cent of the total amount of the top 100, and 2.07 per cent of that of the entire industry.
In terms of profitability, China Overseas Land & Investment sits atop the list with a net profit of 1.6 billion yuan (US$198.7 million).
Also among the top 10 are Hopson Development Holdings Ltd, China Vanke, Beijing Capital Land, Forte Group, SOHO China and Nanjing Chixia Development Co Ltd.
The total net profits of the top 10 profitable enterprises reached 6.7 billion yuan (US$832.2 million) in 2005.
Among the 10 most lucrative firms, China Overseas Land & Development, China Vanke, Hopson Development and Poly Real Estate saw their net profits surpassing the 1 billion yuan (US$124.3 million) mark last year. In addition, there are two companies with net profits between 500 million yuan (US$62.12 million) and 1 billion yuan (US$124.3 million), and four companies between 100 million yuan (US$12.43 million) and 500 million yuan (US$62.12 million).
However, the top 10 firms witnessed a decrease in return on equity during the past three years. The ratio in 2005 decreased by 19.27 per cent from 2004, whereas the ratio in 2004 dropped 4.22 per cent from 2003.
A downward trend like this can be mainly attributed to the decrease of the asset liability ratio, meaning that the net profit growth lags behind the even faster pace of net assets increase, according to the research report. In other words, the reduced liability and increased assets indicates the top 10 firms have become less dependent on bank loans, and thus have more channels for fund raising and are more capable in risk control.
With respect to growth potential, Shanghai Industrial Real Estate ranked first on the top 10 list, with 10 million square metres of reserved land and 10 million square metres of floor space under planning.
Beijing Sunshine100 Real Estate Co Ltd, Coastal Greenland Ltd, Shandong Luneng Estate and Jiangsu Xincheng Real Estate are also on the list.
Last year, the revenues of these companies from their staple businesses rose 49.58 per cent on average from the previous year, 31 percentage points higher than the average rate of the other 90 companies.
In addition, their net profits increased 56.01 per cent annually throughout the past three years, which is 27 percentage points higher than the average rate of the others.
Sales revenues of these 10 fast growing companies grew 58.36 per cent annually from 2003 to 2005, nine percentage points higher than the rate of the rest.
Star enterprises
While it didn't make the top 10 lists regarding profitability, assets scale, growth potential and comprehensive strength, a number of the top 100 Chinese real estate firms were also rated as star enterprises by the China Real Estate Research Team, for their unique achievements in operations, brand building, strategic development and marketing.
Some of the most lucrative and creative star real estate companies are developing niche products.
Living a healthy lifestyle is very popular at the moment, so real estate developers have adjusted their marketing strategies and launched a series of environmentally friendly and energy-saving housing projects.
Focusing on the "green, healthy, energy-saving and environmental-friendly" aspects, housing projects developed by Canada LVC International Investments Inc, Beijing Yongtai Real Estate Development Co Ltd and Xiamen Yuzhou Group Co Ltd enjoy great success in the market.
Other developers such as Wuhan Baibuting Group, Shanghai Kaidi Enterprise (Group) Co Ltd, CIFI Group Co Ltd, Beijing Qianyuan Real Estate and Zhejiang Hongrun Holding Co Ltd place special emphasis on market segmentation.
Their tailor-made products have satisfied the demands of targeted customer groups, and increased their market shares significantly.
Researchers found that successful developers attached high importance to local market developments, where they build up their brands and stand creatively at the forefront of the local real estate industry.
Fujian Zhenro Group Co Ltd, Henan Xinyuan Real Estate Co Ltd and Guangxi Orientland Hangyang Group Co Ltd are all such local real estate stars.
With sales accounting for 3 to 5 per cent of their respective local market shares, they are in an advantageous position in market competition.
Ample land reserves are yet another factor for their success, and also ensures their sustainable growth.
Guangxi Orientland Hangyang Co Ltd has a land reserve of more than 5 million square metres, for instance.
Henan Xinyuan Real Estate Co Ltd and Fujian Zhenro Group Co Ltd have also kept land available for house construction, with land reserves exceeding 3 million square metres.
The research report said another trend of the real estate sector is that, while more players from other fields are joining in the industry, even more house developers are extending their operations to a wide range of industries.
On the one hand, hefty profits in the industry attracted other industrial players, including Guangzhou-based Paragon Group, Shanghai Dazhong, Chongqing Loncin and Jilin Yatai, to scramble for the real estate market shares.
Through setting up subsidiaries or teaming up with existing developers, the companies with reliable reputations in other fields have set out to explore the real estate business.
They have capitalized on intangible property, recognized brands, and performed strongly in the real estate industry.
At this breakneck speed, some of the newcomers have succeeded in ranking among top developers, according to the research report.
On the other hand, house builders began to extend their business chains to related industries.
Shenzhen-based Futong Real Estate, Zhejiang-based Golden Shining Real Estate Group, Wuhan Universe Industry Group and Fujian Guanya Group Co Ltd adopted this diversified business strategy.
Backed by their core business - real estate development, they have expanded their businesses to include construction materials, decorations and property management.
The developers, labelled as comprehensive real estate companies, are capable of providing a package of services and products to meet the needs of their customers.
Some developers have gone even further. They explored opportunities in different sectors, such as biological technology, energy and information industry.
Shanghai Sanxiang Group Co Ltd, Powerlong Group Development Co Ltd, Shenzhen Fuchun Oriental Group, and Chonqing Yuneng Industry Group Co Ltd are such versatile players in various industries.
Covering different fields, these companies have more options to hedge particular industrial risks.
Thus they have gained a more balanced growth through integrating diverse operations.
Despite a dropping share in the top 100 list, State-owned developers still play a pivotal role in the industry.
With a longstanding reputation and professional staff, they have increased their competitiveness in the real estate market.
Based on a market-oriented strategy, they have optimized their resources and maintained a leading position in the real estate market.
Xiamen C&D Real Estate Corporation Ltd, Shanghai Urban Construction Group Co Ltd and Shanghai Zhongjian Real Estate Group Co Ltd were cited as examples of an impressive performance among the State-owned developers.
(For more biz stories, please visit Industry Updates)
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Home|China|BizChina|World|Opinion|Sports|Olympics|Entertainment|Lifestyle|Culture|Citylife|Photo|Forum|Weather
BIZCHINA / Top Biz News
Top 100 real estate firms announced
By China Real Estate Top 10 Research Team (China Daily)
Updated: 2006-03-31 11:04
A research report of the top 100 Chinese real estate firms was recently released in Beijing, providing industry insiders and investors with a general outlook of the industry.
The China Real Estate Top 10 Research Team conducted the research, a joint programme established by the Enterprise Research Institute of Development Research Centre of the State Council of China, the Institute of Real Estate Studies of the Tsinghua University and the China Index Academy.
The study has been conducted for three consecutive years, beginning from 2004.
The report will have a strong impact on domestic financial institutions and local governments when they decide to lend loans or sell land to these companies.
The 2006 China Top 100 Real Estate Firms Research started in October 2005.
In addition to enterprise scale, development potential, profitability and comprehensive strength, which are the major features studied in 2004 and 2005, an enterprise's financial liquidity and social responsibility are also considered in this year's report.
The results have become one of the important standards for judging the operational strength of Chinese real estate enterprises.
About 50 international financial institutions, including Merrill Lynch, regard this report as an important frame of reference to help them choose investment partners in China.
General outlook
Among the top 100 real estate firms, 29 are located in East China, 29 in North China and 26 in South China.
Compared with the previous year, the number of top 100 real estate firms dropped by 10 in East China, indicating an adjustment of the overheating housing market in the region. However, two more firms were added in North China, and eight more in South China.
Combined sales revenues of real estate firms among the top 100 in the three regions reached 188.34 billion yuan (US$23.4 billion), accounting for 14.26 per cent of the nation's total.
The top enterprises in North China, East China and South China take up 5.78 per cent, 4.51 per cent and 3.97 per cent of the country's market share respectively.
Along with their growing scale, the market share of the top 100 firms as a whole is on the rise.
The total assets scale of the top 100 real estate firms has increased, with the emergence of a number of flagship enterprises.
Among the top 100, seven companies boast assets of more than 20 billion yuan (US$2.48 billion). The combined assets of these seven firms total 203.42 billion yuan (US$25.27 billion), which accounts for 33.45 per cent of the total assets of the top 100.
Through mergers and acquisition, the Beijing Capital Development Holdings Co Ltd has become the largest-scale enterprise, with assets totalling more than 50 billion yuan (US$6.21 billion).
Combined sales revenues of the top 10 firms, in terms of comprehensive strength, reached 68.66 billion yuan (US$8.53 billion) last year, accounting for 5.2 per cent of the nation's market share.
In 2004 and 2003, sales revenues of the top 10 firms stood at 50.55 billion yuan (US$6.3 billion) and 35.68 billion yuan (US$4.44 billion) respectively, taking up 4.87 per cent and 4.65 per cent of the industry's total sales revenues.
Total sales revenues of the top 10 increased 35.84 per cent and 92.45 per cent from 2004 and 2003, a trend showing the increasing influence the top 10 enterprises have on the Chinese real estate market.
Predicting a sustained growth of the industry, most of the real estate firms are actively reserving land resources for future development.
Last year, reserved land area of the top 100 firms reached 402.11 million square metres, with 43 enterprises each having a reserved land area between 1 million and 5 million square metres. Nine enterprises each have a reserved land area of more than 10 million square metres, up from 2003 when there were only five such companies.
Take China Vanke Co Ltd as an example. The company's newly built floor space was 2.6 million square metres last year. At present, it has a reserved land area of more than 10 million square metres, proving that its reserves can sustain development for three years, if the existing developing scale is maintained.
Based on the sufficient land reserves at hand, the top 100 firms reported they are planning to develop projects with a total floor space of 283.13 million square metres in the next few years. Seven companies each have plans for more than 10 million square metres, and another 36 said they have planned floor space between 1 million and 5 million square metres.
Based on their competence in risk control, the top 100 real estate firms showed an incredible profit-making aptitude in 2005.
The average annual return on total assets, return on equity and sales profit rate of the top 100 enterprises during the 2003-05 period were 7.83 per cent, 18.68 per cent and 17.4 per cent respectively, according to the research report.
In 2005, there were 33 firms among the top 100 with a return on total assets of less than 5 per cent. However, 20 enterprises realized a return on equity between 10 and 20 per cent and 38 companies achieved a sales profit rate between 10 and 20 per cent.
The research report also indicates the net profit of the enterprises is rising steadily.
In 2005, 58 per cent of the top 100 realized a net profit of more than 100 million yuan (US$12.43 million), whereas the ratio was 48 per cent in 2004 and 34 per cent in 2003.
On the other hand, the proportion of enterprises with a net profit of less than 100 million yuan (US$12.43 million) was reduced to 42 per cent last year, down from 52 per cent in 2004 and 66 per cent in 2003.
Increased profits strengthened the enterprises' financial liquidity. The average asset liability ratio was 63.84 per cent, 65.67 per cent and 66.35 per cent in 2005, 2004, and 2003 respectively, showing the firms' increasing abilities to pay back loans and to resist financial risks.
As a pillar industry in China's economy, the real estate sector pays more taxes to the State.
The total amount of taxes paid by the top 100 real estate firms reached 19.07 billion yuan (US$2.37 billion) in 2005, according to the research report.
Half of the enterprises each paid more than 100 million yuan (US$12.43 million) in taxes. In addition, there are two companies with a tax payment of more than 1 billion yuan (US$124.3 million) each. Taxes paid by China Vanke Co Ltd even reached 1.4 billion yuan (US$174 million).
Top 10 ratings
According to their indices in scale, growth potential and profitability, the China Real Estate Top 10 Research Team rated the specific top 10s for the top 100 Chinese real estate companies.
China Vanke Co Ltd and China Overseas Land & Investment Ltd stood side by side in the first place of the comprehensive strength rating, followed by Hopson Development Holding Ltd, Beijing Capital Development Holdings Co Ltd, Poly Real Estate (Group) Co Ltd, Guangzhou Henda Group, Dahua (Group) Co Ltd, GreenTown Real Estate Group Co Ltd and China Merchants Property Development Co Ltd and Forte (Group) Co Ltd.
In comprehensive strength, the top 10 firms have some common traits, along with exploring operational modes with their own unique characteristics.
For example, China Vanke focuses its core business on housing development for the common people. Through co-operation with other partners, it has increased its land reserves and increased its marketability.
China Overseas Land & Investment Ltd targets high-end customers in the cities. Its competitiveness comes from continuous innovations and brand building.
Forte Group, however, focuses its operations in Beijing and Wuhan, while China Merchants Property Development Co Ltd has launched 18 projects in nine big cities in China, with a business scope covering high-end office buildings and residential projects geared toward various consumer groups.
Guangzhou Henda has placed its operational emphasis on forging strategic partnerships with other famous-brand companies, as well as controlling costs.
Increasing land reserves through purchasing, government land auctions and co-operation with partners are the common features of the top 10 firms.
Through purchasing and participating in government land auctions, Poly Real Estate's land reserves reached 10 million square metres last year.
With respect to the assets scale, Beijing Capital Development Holdings Co Ltd ranked first on the top 10 list, with assets totalling more than 50 billion yuan (US$6.22 billion), followed by China Vanke, Shanghai Industrial Real Estate, China Overseas land & Investment and Shandong Luneng Estate.
The 10 largest enterprises have combined assets of 186.6 billion yuan (US$23.2 billion), accounting for 38.1 per cent of the total of the top 100 firms.
Their combined sales revenues hit 49.94 billion yuan (US$6.21 billion), taking up 31.63 per cent of the top 100's total.
In addition, their total floor space under construction stands at 29.17 million square metres, which accounts for 33.76 per cent of the total amount of the top 100, and 2.07 per cent of that of the entire industry.
In terms of profitability, China Overseas Land & Investment sits atop the list with a net profit of 1.6 billion yuan (US$198.7 million).
Also among the top 10 are Hopson Development Holdings Ltd, China Vanke, Beijing Capital Land, Forte Group, SOHO China and Nanjing Chixia Development Co Ltd.
The total net profits of the top 10 profitable enterprises reached 6.7 billion yuan (US$832.2 million) in 2005.
Among the 10 most lucrative firms, China Overseas Land & Development, China Vanke, Hopson Development and Poly Real Estate saw their net profits surpassing the 1 billion yuan (US$124.3 million) mark last year. In addition, there are two companies with net profits between 500 million yuan (US$62.12 million) and 1 billion yuan (US$124.3 million), and four companies between 100 million yuan (US$12.43 million) and 500 million yuan (US$62.12 million).
However, the top 10 firms witnessed a decrease in return on equity during the past three years. The ratio in 2005 decreased by 19.27 per cent from 2004, whereas the ratio in 2004 dropped 4.22 per cent from 2003.
A downward trend like this can be mainly attributed to the decrease of the asset liability ratio, meaning that the net profit growth lags behind the even faster pace of net assets increase, according to the research report. In other words, the reduced liability and increased assets indicates the top 10 firms have become less dependent on bank loans, and thus have more channels for fund raising and are more capable in risk control.
With respect to growth potential, Shanghai Industrial Real Estate ranked first on the top 10 list, with 10 million square metres of reserved land and 10 million square metres of floor space under planning.
Beijing Sunshine100 Real Estate Co Ltd, Coastal Greenland Ltd, Shandong Luneng Estate and Jiangsu Xincheng Real Estate are also on the list.
Last year, the revenues of these companies from their staple businesses rose 49.58 per cent on average from the previous year, 31 percentage points higher than the average rate of the other 90 companies.
In addition, their net profits increased 56.01 per cent annually throughout the past three years, which is 27 percentage points higher than the average rate of the others.
Sales revenues of these 10 fast growing companies grew 58.36 per cent annually from 2003 to 2005, nine percentage points higher than the rate of the rest.
Star enterprises
While it didn't make the top 10 lists regarding profitability, assets scale, growth potential and comprehensive strength, a number of the top 100 Chinese real estate firms were also rated as star enterprises by the China Real Estate Research Team, for their unique achievements in operations, brand building, strategic development and marketing.
Some of the most lucrative and creative star real estate companies are developing niche products.
Living a healthy lifestyle is very popular at the moment, so real estate developers have adjusted their marketing strategies and launched a series of environmentally friendly and energy-saving housing projects.
Focusing on the "green, healthy, energy-saving and environmental-friendly" aspects, housing projects developed by Canada LVC International Investments Inc, Beijing Yongtai Real Estate Development Co Ltd and Xiamen Yuzhou Group Co Ltd enjoy great success in the market.
Other developers such as Wuhan Baibuting Group, Shanghai Kaidi Enterprise (Group) Co Ltd, CIFI Group Co Ltd, Beijing Qianyuan Real Estate and Zhejiang Hongrun Holding Co Ltd place special emphasis on market segmentation.
Their tailor-made products have satisfied the demands of targeted customer groups, and increased their market shares significantly.
Researchers found that successful developers attached high importance to local market developments, where they build up their brands and stand creatively at the forefront of the local real estate industry.
Fujian Zhenro Group Co Ltd, Henan Xinyuan Real Estate Co Ltd and Guangxi Orientland Hangyang Group Co Ltd are all such local real estate stars.
With sales accounting for 3 to 5 per cent of their respective local market shares, they are in an advantageous position in market competition.
Ample land reserves are yet another factor for their success, and also ensures their sustainable growth.
Guangxi Orientland Hangyang Co Ltd has a land reserve of more than 5 million square metres, for instance.
Henan Xinyuan Real Estate Co Ltd and Fujian Zhenro Group Co Ltd have also kept land available for house construction, with land reserves exceeding 3 million square metres.
The research report said another trend of the real estate sector is that, while more players from other fields are joining in the industry, even more house developers are extending their operations to a wide range of industries.
On the one hand, hefty profits in the industry attracted other industrial players, including Guangzhou-based Paragon Group, Shanghai Dazhong, Chongqing Loncin and Jilin Yatai, to scramble for the real estate market shares.
Through setting up subsidiaries or teaming up with existing developers, the companies with reliable reputations in other fields have set out to explore the real estate business.
They have capitalized on intangible property, recognized brands, and performed strongly in the real estate industry.
At this breakneck speed, some of the newcomers have succeeded in ranking among top developers, according to the research report.
On the other hand, house builders began to extend their business chains to related industries.
Shenzhen-based Futong Real Estate, Zhejiang-based Golden Shining Real Estate Group, Wuhan Universe Industry Group and Fujian Guanya Group Co Ltd adopted this diversified business strategy.
Backed by their core business - real estate development, they have expanded their businesses to include construction materials, decorations and property management.
The developers, labelled as comprehensive real estate companies, are capable of providing a package of services and products to meet the needs of their customers.
Some developers have gone even further. They explored opportunities in different sectors, such as biological technology, energy and information industry.
Shanghai Sanxiang Group Co Ltd, Powerlong Group Development Co Ltd, Shenzhen Fuchun Oriental Group, and Chonqing Yuneng Industry Group Co Ltd are such versatile players in various industries.
Covering different fields, these companies have more options to hedge particular industrial risks.
Thus they have gained a more balanced growth through integrating diverse operations.
Despite a dropping share in the top 100 list, State-owned developers still play a pivotal role in the industry.
With a longstanding reputation and professional staff, they have increased their competitiveness in the real estate market.
Based on a market-oriented strategy, they have optimized their resources and maintained a leading position in the real estate market.
Xiamen C&D Real Estate Corporation Ltd, Shanghai Urban Construction Group Co Ltd and Shanghai Zhongjian Real Estate Group Co Ltd were cited as examples of an impressive performance among the State-owned developers.
(For more biz stories, please visit Industry Updates)
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China's real estate index down 0.65 point in April
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China's real estate index down 0.65 point in April
(Xinhua)
Updated: 2008-05-16 15:44
China's national real estate climate index was 104.07 in April, a decline of 0.65 point from March, the National Bureau of Statistics (NBS) said on Friday.
But the index rose 1.42 points from a year earlier, the bureau added.
The index for investment in property development was 104.28 in April, down 0.20 point from March but up 2.11 points from a year earlier.
Approximately 695.2 billion yuan ($99.3 billion) was pumped into real estate development nationwide in the first four months of this year, up 32.1 percent year-on-year.
Investment in housing construction increased by 35.2 percent to 494.4 billion yuan, including 18.6 billion yuan in low-income housing, up 24.7 percent.
The index for land development was 96.88 in April, down 1.23 points from March but up 0.90 point over the year-earlier level, the NBS said.
The January-April period saw 80.65 million square meters of land developed nationwide by the real estate sector, up 5.9 percent on the same period of last year.
The index for properties being built was 107.78, down 0.65 point from a month earlier but up 3.07 points from a year earlier.
Between January and April, 1.79 billion sq m of real estate was being constructed nationwide, up 25.4 percent year-on-year. The total included 1.41 billion sq m of housing projects, up 27.2 percent, and 64.28 million sq m of office buildings, up 7.7 percent.
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BIZCHINA / Center
China's real estate index down 0.65 point in April
(Xinhua)
Updated: 2008-05-16 15:44
China's national real estate climate index was 104.07 in April, a decline of 0.65 point from March, the National Bureau of Statistics (NBS) said on Friday.
But the index rose 1.42 points from a year earlier, the bureau added.
The index for investment in property development was 104.28 in April, down 0.20 point from March but up 2.11 points from a year earlier.
Approximately 695.2 billion yuan ($99.3 billion) was pumped into real estate development nationwide in the first four months of this year, up 32.1 percent year-on-year.
Investment in housing construction increased by 35.2 percent to 494.4 billion yuan, including 18.6 billion yuan in low-income housing, up 24.7 percent.
The index for land development was 96.88 in April, down 1.23 points from March but up 0.90 point over the year-earlier level, the NBS said.
The January-April period saw 80.65 million square meters of land developed nationwide by the real estate sector, up 5.9 percent on the same period of last year.
The index for properties being built was 107.78, down 0.65 point from a month earlier but up 3.07 points from a year earlier.
Between January and April, 1.79 billion sq m of real estate was being constructed nationwide, up 25.4 percent year-on-year. The total included 1.41 billion sq m of housing projects, up 27.2 percent, and 64.28 million sq m of office buildings, up 7.7 percent.
(For more biz stories, please visit Industry Updates)
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· April property prices in 70 cities up 10.1%
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· Guangzhou property investments slide
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· Vanke April property sales reach 4.32b yuan
--------------------------------------------------------------------------------
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Boao Forum: China real estate sector likely at ...
Boao Forum: China real estate sector likely at crossroads
www.chinaview.cn 2008-04-12 22:57:20 Print
Special Report: Boao Forum for Asia 2008
BOAO, Hainan, April 12 (Xinhua) -- Economists and executives participating here in the Boao Forum for Asia on Saturday highlighted the uncertainties of China's real estate industry, which they said might experience a rational cooling at best or a painful reshuffle this year.
Many agreed 2008 would not be a quiet year for China's property industry, even though the U.S. subprime crisis would hardly deal serious blows to the domestic real estate market.
Government data had projected a slowdown in the rise of property prices since January, with price declines registered in some cities.
In Shenzhen of the southern Guangdong Province, the cradle of the country's real estate industry, developers who used to buy up land over the past few years had suddenly turned prudent this spring. This was evidenced by the increasing plots of land failing to be auctioned off.
Pan Shiyi, chairman of property developer SOHO China, attributed the caution to a strained cash flow in the Real Estate Dialogue talk on the sidelines of the Boao Forum for Asia 2008 Annual Conference.
Rising interest rates and succinct bank loans under the tight monetary policy imposed late last year, together with the rising costs for raw materials, labor and land, had squeezed the profits of the real estate industry, he said.
China's four largest listed land developers, including Vanke, China Merchants Property Development, Gemdale and Poly, all reported a five-year low in cash flow from operating costs per share in their 2007 financial reports.
"Money has become the top problem plaguing the capital-intensive real estate industry this year," Pan said.
But Ren Zhiqiang, president of the Beijing-based Huayuan Group, told the meeting he would rather take a long-term perspective. "Solong as the fundamentals of the Chinese economy remain un-disrupted, property prices will rise soon or later," he said.
Chen Huai, dean of the policy research office of the ministry of housing and urban-rural construction, also denied the country's real estate sector was in the trough.
"The process of urbanization in China is a long-term strategy that will last 20 to 30 years. It will not easily be affected by individual events such as the U.S. subprime crisis and the Olympic Games."
The adjustment would be more like a rational cooling from the past sizzling growth, he noted.
Chen said the newly-installed ministry of housing and urban-rural construction would strive to secure the need for low-rent houses in counties and cities, build more houses in villages and townships and further regulate the property market.
Though confident with the whole industry, Ren still foresaw a difficult period as cash-strained small players would face mergers and acquisitions in the months to come.
Hu Zuliu, Goldman Sachs Group (Asia) Ltd general manager, warned it was dangerous to think China was immune to the subprime crisis triggered by a property bust in the United states.
He said there were many lessons to be drawn from both the crisis and history as many countries, such as Australia, New Zealand, Spain, France, Thailand and Malaysia, had experienced a boom-and-bust real estate cycle over the past decade. "China should stay on high alert at this point."
Editor: Yan Liang
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www.chinaview.cn 2008-04-12 22:57:20 Print
Special Report: Boao Forum for Asia 2008
BOAO, Hainan, April 12 (Xinhua) -- Economists and executives participating here in the Boao Forum for Asia on Saturday highlighted the uncertainties of China's real estate industry, which they said might experience a rational cooling at best or a painful reshuffle this year.
Many agreed 2008 would not be a quiet year for China's property industry, even though the U.S. subprime crisis would hardly deal serious blows to the domestic real estate market.
Government data had projected a slowdown in the rise of property prices since January, with price declines registered in some cities.
In Shenzhen of the southern Guangdong Province, the cradle of the country's real estate industry, developers who used to buy up land over the past few years had suddenly turned prudent this spring. This was evidenced by the increasing plots of land failing to be auctioned off.
Pan Shiyi, chairman of property developer SOHO China, attributed the caution to a strained cash flow in the Real Estate Dialogue talk on the sidelines of the Boao Forum for Asia 2008 Annual Conference.
Rising interest rates and succinct bank loans under the tight monetary policy imposed late last year, together with the rising costs for raw materials, labor and land, had squeezed the profits of the real estate industry, he said.
China's four largest listed land developers, including Vanke, China Merchants Property Development, Gemdale and Poly, all reported a five-year low in cash flow from operating costs per share in their 2007 financial reports.
"Money has become the top problem plaguing the capital-intensive real estate industry this year," Pan said.
But Ren Zhiqiang, president of the Beijing-based Huayuan Group, told the meeting he would rather take a long-term perspective. "Solong as the fundamentals of the Chinese economy remain un-disrupted, property prices will rise soon or later," he said.
Chen Huai, dean of the policy research office of the ministry of housing and urban-rural construction, also denied the country's real estate sector was in the trough.
"The process of urbanization in China is a long-term strategy that will last 20 to 30 years. It will not easily be affected by individual events such as the U.S. subprime crisis and the Olympic Games."
The adjustment would be more like a rational cooling from the past sizzling growth, he noted.
Chen said the newly-installed ministry of housing and urban-rural construction would strive to secure the need for low-rent houses in counties and cities, build more houses in villages and townships and further regulate the property market.
Though confident with the whole industry, Ren still foresaw a difficult period as cash-strained small players would face mergers and acquisitions in the months to come.
Hu Zuliu, Goldman Sachs Group (Asia) Ltd general manager, warned it was dangerous to think China was immune to the subprime crisis triggered by a property bust in the United states.
He said there were many lessons to be drawn from both the crisis and history as many countries, such as Australia, New Zealand, Spain, France, Thailand and Malaysia, had experienced a boom-and-bust real estate cycle over the past decade. "China should stay on high alert at this point."
Editor: Yan Liang
Related Stories
Home China
Back to Top
Copyright ©2003 Xinhua News Agency. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
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China faces a second land revolution. Asia Times.Jan. 3
China's housing price up 10.5% in November. Xinhua
Property tycoon gets 16 years for bribery in China. The Independent.
Asia's hot property market booms - but China may face growing risks. The Canadian Press Nov. 26
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China Daily Special Coverage: Housing in China
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Beneath Booming Cities, China’s Future Is Drying Up Sep. 28, 2007
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After five years of construction, China's National Grand Theater undergoes its first test runs starting next Tuesday. The egg-shaped edifice is one of the most talked-about architectural projects in years. It's audacious and innovative design is by French architect Paul Andreu and the project itself has evolved on a grand scale.
Situated in the heart of the capital, the futurist theater emerges like an island at the center of a lake. Employing over 20,000 titanium panels and 12 hundred panes of laminated glass, the stunning exterior aesthetically portrays the opening of a giant curtain.
Entering the theater, audiences will pass through an 80-meter tunnel, looking up at shimmering water viewed through the transparent roof. (Click picture for enlargement.)
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Gov't guiding urged to cool down China's house prices
Xinhua, Feb. 22, 2007 - The Chinese Ministry of Construction has called for more governmental efforts to guide house prices when developing small and medium-sized houses for residential need. The government should set limits on house sizes and prices when picking developers in public bidding for those housing projects, said Minister of Construction Wang Guangtao recently. (Click for full report)
China likely to raise mortgage deposits to curb house price hiking Sep. 26, 2007
Xinhua - The central bank is likely to order commercial banks to raise mortgage deposits to at least 40 percent for homebuyers who intend to buy a second apartment.
Homebuyers will have to make a down payment of 40 percent to buy a second apartment, and for apartments for commercial use, the down payment will be raised to as high as 50 percent, Wednesday's China Daily reported.
The minimum deposit for an apartment of more than 90 square meters is currently 30 percent, while for apartments less than 90 square meters it's 20 percent.
The central bank is also expected to increase the interest rate of mortgage loans to 1.1 times the benchmark one-year lending rate this week, the report said.
The move is an attempt to curb the rise in house prices and speculation in the property market.
The current five-year lending rate has reached 7.83 percent after the central bank raised the interest rate for the fifth time this year on September 13.
This means the interest rate for five-year mortgage loans could reach as high as 8.613 percent if the central bank makes a move this week.
"With the expansion of mortgage loans, and as the central bank continuously raises interest rates, mortgage loans are beginning to face a high risk of default," China Construction Bank (CCB), the lender with the highest mortgage loans in China, was quoted assaying.
Total non-performing mortgage loans in three major commercial banks - CCB, the Industrial and Commercial Bank of China, and Bank of China - rose to 19.2 billion yuan (2.55 billion U.S. dollars) at the end of 2006 from 18.4 billion yuan in 2005, according to CCB.
The central bank will also require commercial banks to stop lending to property developers who hoard land and house for speculation purposes, according to the source.
Property prices in 70 major cities jumped 8.2 percent in August from a year earlier after gaining 7.5 percent in July, according to figures from the National Development and Reform Commission.
Housing prices in Beijing rose 12.1 percent from a year earlier, while prices in Shenzhen went up 20.8 percent.
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China National Grand Theater (Right) and The Great Hall of People (Left)
Related News and Information Links:
China home prices seen dropping further. Bangkok Post
Great walls of China. The Age
China opens world's longest road bridge
Olympic Boom - National Geographic Report from China
China's Sina Corp, E-house set up online real estate portal. CNN Money 08-02-25
China faces a second land revolution. Asia Times.Jan. 3
China's housing price up 10.5% in November. Xinhua
Property tycoon gets 16 years for bribery in China. The Independent.
Asia's hot property market booms - but China may face growing risks. The Canadian Press Nov. 26
Real estate market hot as ever. China Daily. Nov.19.
China property index hits new high in Oct
China Daily Special Coverage: Housing in China
RE causes China bubble Asia Property Report
Inside Chinese Walls. The Wall Street Journal
Beneath Booming Cities, China’s Future Is Drying Up Sep. 28, 2007
Per capita housing floor space for Chinese urbanites reaches 27 square meters
Shanghai tops out world's third-tallest building Sep. 15, 2007
BBC NEWS China's property bubble risk
... Whether or not China's overheated real estate sector amounts to a bubble, the government's
handling of the situation will be closely watched - especially with
CNN In-Depth Special - Visions of China - Royal Real Estate
China to limit real estate investment China Daily July 24, 2007
(Click for more)
Related Laws and Regulations:
China's landmark property law takes effect
Provisions on the Establishment of Foreign-Funded Construction Enterprises
Property Law and Tax
China Considers Property Tax
Special Report: National Grand Theater
After five years of construction, China's National Grand Theater undergoes its first test runs starting next Tuesday. The egg-shaped edifice is one of the most talked-about architectural projects in years. It's audacious and innovative design is by French architect Paul Andreu and the project itself has evolved on a grand scale.
Situated in the heart of the capital, the futurist theater emerges like an island at the center of a lake. Employing over 20,000 titanium panels and 12 hundred panes of laminated glass, the stunning exterior aesthetically portrays the opening of a giant curtain.
Entering the theater, audiences will pass through an 80-meter tunnel, looking up at shimmering water viewed through the transparent roof. (Click picture for enlargement.)
Administration
Ministry of Construction (website in Chinese)
China Construction Information Network (website in Chinese)
China tightens rules on foreign property investors
Environment
Making waves in troubled waters
Part I As China rises, pollution soars
Part II Though water is drying up, a Chinese metropolis booms
Useful Links;
Famous in Constructions
Famous Construction Projects
Books: China Real Estate
Related News and Information:
Gov't guiding urged to cool down China's house prices
Xinhua, Feb. 22, 2007 - The Chinese Ministry of Construction has called for more governmental efforts to guide house prices when developing small and medium-sized houses for residential need. The government should set limits on house sizes and prices when picking developers in public bidding for those housing projects, said Minister of Construction Wang Guangtao recently. (Click for full report)
China likely to raise mortgage deposits to curb house price hiking Sep. 26, 2007
Xinhua - The central bank is likely to order commercial banks to raise mortgage deposits to at least 40 percent for homebuyers who intend to buy a second apartment.
Homebuyers will have to make a down payment of 40 percent to buy a second apartment, and for apartments for commercial use, the down payment will be raised to as high as 50 percent, Wednesday's China Daily reported.
The minimum deposit for an apartment of more than 90 square meters is currently 30 percent, while for apartments less than 90 square meters it's 20 percent.
The central bank is also expected to increase the interest rate of mortgage loans to 1.1 times the benchmark one-year lending rate this week, the report said.
The move is an attempt to curb the rise in house prices and speculation in the property market.
The current five-year lending rate has reached 7.83 percent after the central bank raised the interest rate for the fifth time this year on September 13.
This means the interest rate for five-year mortgage loans could reach as high as 8.613 percent if the central bank makes a move this week.
"With the expansion of mortgage loans, and as the central bank continuously raises interest rates, mortgage loans are beginning to face a high risk of default," China Construction Bank (CCB), the lender with the highest mortgage loans in China, was quoted assaying.
Total non-performing mortgage loans in three major commercial banks - CCB, the Industrial and Commercial Bank of China, and Bank of China - rose to 19.2 billion yuan (2.55 billion U.S. dollars) at the end of 2006 from 18.4 billion yuan in 2005, according to CCB.
The central bank will also require commercial banks to stop lending to property developers who hoard land and house for speculation purposes, according to the source.
Property prices in 70 major cities jumped 8.2 percent in August from a year earlier after gaining 7.5 percent in July, according to figures from the National Development and Reform Commission.
Housing prices in Beijing rose 12.1 percent from a year earlier, while prices in Shenzhen went up 20.8 percent.
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This site is frequently updated and permanently under construction. All the information provided in this website is for informational purposes only. CHINATODAY .COM disclaims all liability or responsibility for the accuracy and completeness of the information provided in this website and the opinions by publications linked by this website do not necessarily reflect the views of CHINATODAY.COM or any of its affiliates.
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USD 6.940 HKD 0.890
EUR 10.920 JPY 0.067
GBP 13.750 CHF 6.730
CAD 7.040 AUD 6.640
New HomesRentalsPreowned HomesSelect City Select Location/District
Beijing Shanghai Tianjin Guangzhou Shenzhen please selectHaidianChaoyangDongchengXichengChongwenXuanwuFengtaiShijingshanFangshanMentougouTongzhouShunyiChangpingMiyunHuairouYanqingPingguDaxing
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All Prices 8000-10000RMB 10000-12000RMB above 12000RMB All Types Apartments/units Villas/Townhouses
News Update
·U.S. clean-tech investment leaps considerably 2008-08-06
·Wall Street rallies on economic data, falling oil 2008-08-06
·Trade between Dominican Republic, China grows fast 2008-08-06
·China's dependence on foreign trade tops 60% 2008-08-06
·China sets retrial of anti-dumping tax 2008-08-06
·Tokyo stocks close lower 2008-08-06
·Market practices via 2 environment bourses 2008-08-06
·Federal Reserve forced to hold key interest rate 2008-08-06
·Rooms with a view to the future 2008-08-06
·Death of Heath Ledger 2008-08-06
Fed approves ICBC's branch in NY
The Industrial and Commercial Bank of China Ltd. (ICBC), the world's largest bank by market capitalization, was officially approved by the Federal Reserve Board Tuesday to establish a branch in New York.
New HomesRentalsPreowned Homes video
ZhenYuan Shanghai Xiang Shu Wan Swan Bay Zhu Jiang Feng Jing
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Travel In China
RMB Exchange
USD 6.940 HKD 0.890
EUR 10.920 JPY 0.067
GBP 13.750 CHF 6.730
CAD 7.040 AUD 6.640
New HomesRentalsPreowned HomesSelect City Select Location/District
Beijing Shanghai Tianjin Guangzhou Shenzhen please selectHaidianChaoyangDongchengXichengChongwenXuanwuFengtaiShijingshanFangshanMentougouTongzhouShunyiChangpingMiyunHuairouYanqingPingguDaxing
Select Price Range Select Property Type
All Prices 8000-10000RMB 10000-12000RMB above 12000RMB All Types Apartments/units Villas/Townhouses
News Update
·U.S. clean-tech investment leaps considerably 2008-08-06
·Wall Street rallies on economic data, falling oil 2008-08-06
·Trade between Dominican Republic, China grows fast 2008-08-06
·China's dependence on foreign trade tops 60% 2008-08-06
·China sets retrial of anti-dumping tax 2008-08-06
·Tokyo stocks close lower 2008-08-06
·Market practices via 2 environment bourses 2008-08-06
·Federal Reserve forced to hold key interest rate 2008-08-06
·Rooms with a view to the future 2008-08-06
·Death of Heath Ledger 2008-08-06
Fed approves ICBC's branch in NY
The Industrial and Commercial Bank of China Ltd. (ICBC), the world's largest bank by market capitalization, was officially approved by the Federal Reserve Board Tuesday to establish a branch in New York.
New HomesRentalsPreowned Homes video
ZhenYuan Shanghai Xiang Shu Wan Swan Bay Zhu Jiang Feng Jing
About Soufun | Contact Us | Link copyright © 2007 SouFun.com Limited,All Rights Reserved
src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
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