Vanke’s Wang Shi reveals his favorite number
A recent joint report published by two Chinese real estate groups ranks the top 500 property developers in China and compares their outlooks for the coming year. The report shows China Vanke keeping its top spot among the developers, and Mingtiandi is here to share the rest of the top 10 with you.
The report, “The Top 500 Chinese Real Estate Developers in 2013” was released by the China Real Estate Research Association together with the China Real Estate Industry Association. Overall, the report showed the consolidation that is happening in the market as the top 100 developers recovered more quickly during the second half of 2012, compared to their smaller counterparts.
For 2012, the total sales of the top 100 firms totaled 1,907.3 billion yuan, up 16.7 percent year on year. By comparison, the sales for China’s real estate developers in general only increased by 6.7 percent. Among the top ten developers, 2012 sales reached 797.37 billion yuan (US$128.3 billion), accounting for 32 percent of the total sales for the top 500 enterprises.
However, despite the positive sales figures, profits were on the way down in 2012. The survey showed that the net profit of the top 500 enterprises stood at 434 million yuan (US$ 69.83 million), down 18.64 percent compared with 2011.
The survey attempts to rank the companies on a variety of factors, including total asset value, total turnover and real estate sales revenues. And now, on with the top 10!
#10: Guangzhou R & F Properties Corporation
In 2012, the R&F Properties’ turnover reached 30.4 billion yuan (US$4.887 billion), up 11 percent compared with 2011.For 2013 the firm plans a healthy jump in sales to 42 billion yuan (US$6.758 billion) in 2013, up 23 percent compared with 2012.
#9: Shimao Property Holdings Limited
Founded in 2001, Shimao achieved sales revenues of 28.6 billion yuan (US$4.602 billion), up 10.1 percent compared with 2011. However, operating profits were only 10 billion yuan (US$1.61 billion), down 9.1 percent.
#8: China Resources Land Limited
China Resources Land Limited is the real estate flagship of China Resources (Holdings) Limited, a conglomerate investing in several industries. According to the company’s annual report, China Resources Land’s 2012 turnover reached HK$44.4 billion (US$5.714 billion), up 23.9 percent compared to the same period of 2011. For 2013 the company projects turnover of 40.1 billion yuan (US$6.447 billion).
#7: Longfor Properties Co. Ltd
Founded in 1994, Longfor Properties Co., Ltd achieved 2012 turnover of 27.9 billion yuan (US$4.488 billion), an increase of 15.8 percent compared with 2011. Additionally, sales volume exceeded 40.1 billion yuan (US$6.457 billion), up 4.9 percent on a year-on-year basis.
#6: Greenland Holding Group Company Limited
Founded in 1992, Greenland’s annual operating income was more than 243 billion yuan (US$39.1 billion), up 39 percent compared to the same period of 2011. The company’s real estate sales volume reached 105 billion yuan (US$16.9 billion), ranking No.2 in the industry.
Greenland also ranked number 483 on the 2012 Fortune Global 500 list.
#5: China Overseas Land & Investment Ltd
Founded in 1979 in Hong Kong, China Overseas Land & Investment Ltd is a subsidiary of the China State Construction Engineering Corporation. According to the firm’s annual report, its 2012 turnover was HK$64.58 billion (US$ 8.318 billion), up 25.8 percent compared with the same period of 2011.
#4: Dalian Wanda Group Corporation Ltd
Established in 1988, Dalian Wanda is best known now for its aggressive expansion into new markets, including the purchase of a US theatre chain and other overseas ventures. The company now owns 26 Wanda Plazas, 49 five-star hotels, 730 movie theaters, 40 stores and 45 KTVs.
By the end of 2012, Dalian Wanda’s assets reached 300 billion yuan (US$ 48.27 billion), up 50 percent compared with 2011, and its income stood at 14.17 billion yuan (US$ 22.8 billion), up 34.8 percent year-on-year.
#3: Poly Real Estate Group Co., Ltd
Founded in 1992, Poly is the real estate arm of government conglomerate China Poly Group. By the end of 2012, total assets of the Poly Group came to 378.6 billion yuan (US$60.9 billion) and net assets stood at 88.4 billion yuan (US$14.22 billion).
In 2012, Poly’s revenue reached 98.9 billion yuan (US$15.91 billion) and net profit was 13.68 billion yuan (US$2.2 billion).
#2: Evergrande Group
Established in 1996, Evergrande is active in both residential and commercial real estate as well as tourism and even owns a soccer team. In 2012, Evergrande Group’s total assets were valued at 24.86 billion yuan (US$4 billion), and its sales volume was 92.32 billion yuan (US$14.85 billion).
#1: China Vanke Co., Ltd
Founded in May of 1984, China Vanke Co., Ltd. is the largest residential real estate enterprise in China, focusing on design, development, management and property sales. In 2012, China Vanke’s sales volume reached 141.2 billion yuan (US$22.7 billion), a rise of 16.2 percent compared to the same period in 2011. Vanke’s 2012 sales proved to be a new record for the industry as a whole.
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