Wang Jianlin tops rich list again
Print Edition
WANG Jianlin, founder and chairman of Dalian Wanda Group, has been ranked the “Richest Property Tycoon” in China’s mainland for the fifth time by Hurun Report, which published yesterday its 10th issue of Hurun Property Rich List.
With a real estate fortune of 120 billion yuan (US$18.9 billion), or a year-on-year gain of 9 percent after a successful Hong Kong listing in December, Wang, 61, snatched back the title of the richest man on the mainland from Alibaba’s Jack Ma in the Hurun Rich List 2015 released earlier this month.
Wang was followed by 74-year-old Chen Lihua of Fu Wah International with 47 billion yuan in property assets and 48-year-old Wang Wenxue of Fortune Land Development with 45 billion yuan.
The Hurun Property Rich List only considers wealth currently held in the real estate sector, and wealth calculations are a snapshot of August 14, 2015.
The average wealth of the top-50 property tycoons rose 24 percent annually to 18.5 billion yuan, up fivefolds from a decade ago.
“China’s real estate tycoons have had a good year generally as the big players have continued to grow fastest, making it harder for small and medium-sized players to keep up,” said Rupert Hoogewerf, chairman and chief researcher of the report.
Chinese developers are benefiting from a rebound in demand over the past year amid the government’s easing policies, which include cuts in interest rates and bank reserve requirement ratios. They also include cutting the percentage of down payment and lifting curbs on the number of houses individuals can buy in most cities in the country, the report said.
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