MEDIA RELEASE PR36582
Competition among Chinese Real Estate Companies Begins to Change in Q3 2009
BEIJING, Oct. 15 /PRNewswire-Asia-AsiaNet/ --
According to the "Sales Rankings of Chinese Real Estate Companies for Q3 2009" report released on
October 9th by CRIC (China) Information Technology Co., Ltd., in cooperation with China Real Estate
Appraisal and Shanghai E-house R&D Institute, the competition among Chinese real estate companies began
to change in the third quarter. Sina Leju was the first media source to announce the release of this report, part
of which is as follows:
Pattern of competition in China's real estate sector begins to change
Statistics show that Vanke topped the list in terms of sales revenue as of the end of the third quarter.
Industry analysts predict that if Vanke can increase the number of units available for sale in the fourth quarter,
the developer will achieve sales revenue amounting to RMB 60 billion for 2009, and by doing so, set a
nationwide record among all the players in the sector.
However, major Chinese developers like Poly Real Estate Group and China Overseas Land & Investment,
as well as developers specializing in fast turnaround of projects represented by Evergrande Real Estate Group
and Greenland Group are gaining momentum this year and are closing in on and even outperforming Vanke in
some areas.
Companies like Evergrande Real Estate Group have moved up in the "Sales Rankings of Chinese Real
Estate Companies for Q3 2009," evidence of changes to the pattern of competition in the real estate sector. As
there are more and more players with annual sales of RMB 10 billion or above, the market will see further
concentration. The report also shows that a large reserves of low-cost land, efficient operating models and
imminent plans to go public are making it possible for Evergrande Real Estate Group and similar companies to
achieve rapid development.
Evergrande Real Estate Group leaps to first place
An overview of the three rankings shows that Evergrande Real Estate Group recorded outstanding
performance: floor space sold for the third quarter reached 2.303 million square meters, with sales revenue of
RMB 12.33 billion, topping both lists. The company was ranked first on the list of the top 20 Chinese real
estate companies for the first three quarters of 2009 in terms of floor space sold, with 4.537 million square
meters of floor space sold. In addition, it was the leading real estate company across China in terms of land
reserves at the end of the third quarter (51 million square meters) and surface area of projects under
construction.
Evergrande Real Estate Group differentiated itself from a host of powerful real estate companies to top five
of the six sub-lists. In addition, the company experienced the fastest growth in both floor space sold and sales
revenue for the third quarter when compared with the first half, with growth rates of 103.09 and 106.75
percent, respectively.
During the first half of the year, Evergrande Real Estate Group not only went against the trend during the
financial crisis by maintaining positive growth, but also took the lead in recording robust growth during the
economic recovery, as evidenced by its strong performance in floor space sold. Large amounts of land
reserves, an operating model based on quick turnover and the upcoming public listing are expected to help
Evergrande Real Estate Group climb to even greater heights.
For more information, please contact:
Kevin
Fax: +86-10-5895-1005
Email: Kevinmts@sina.com
SOURCE: Sina Leju
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