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Large Chinese Preoperty Developers Raise Housing Sales Targets For 2013

|Includes:CMHHF, CRBJF, CRBJY, CTRYF, CTRYY, China Vanke Co., Ltd. ADR (CVKEY), EGRNF, LGFRY, PHKIF

 

Prepared by ChinaScope Financial | Source: Economic Information Daily
  • The Chinese regulatory bodies released the latest version of housing control policies a month ago and detailed measures will be introduced by local governments shortly; however, big players including China Vanke Co., Ltd. (000002: SHE), Poly Property Group Co., Ltd. (00119: HKG), Gemdale Corp. (600383: SHA), and China Merchants Property Development Co., Ltd. (000024: SHE) have raised their sales targets for 2013.
  • Data shows that total sales value of the top ten real estate companies including China Vanke, Poly Property Group, China Merchants Property, Gemdale Corp., Evergrande Real Estate Group Ltd. (03333: HKG), China Resources Land Ltd. (01109: HKG), Country Garden Holdings Co., Ltd. (02007: HKG), and Longfor Properties Co., Ltd. (00960: HKG) reached CNY 669 billion in 2012, with an average year-on-year growth of 25.6 percent. In addition, seven out of these ten firms have raised their 2013 sales targets by an average of 12.8 percent.

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