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Vanke, Evergrande stay on top
By Cao Qian |
July 2, 2011, Saturday
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Print Edition
Print Edition
CHINA Vanke Co and Evergrande Real Estate Group retained their status as the country's top home sellers - by value and by area respectively - in the first half of this year with both registering more than 80 percent growth from a year ago, despite government measures to rein in the market since January.
Shenzhen-based Vanke retained the No. 1 spot after selling a total of 64.42 billion yuan (US$9.96 billion) worth of new houses between January and June while Guangzhou-based Evergrande continuously topped all other domestic rivals by registering six-month residential sales of 6.2 million square meters, according to the half-year report released by China Real Estate Information Corp and China Real Estate Appraisal yesterday.
The two real estate information service providers tracked sales of new houses in nearly 100 major cities developed by companies whose main operations are on the Chinese mainland. Those built under the country's affordable housing programs, however, were excluded.
In the same period of last year, Vanke fetched 35.5 billion yuan from new home sales, and Evergrande unloaded 3.32 million square meters of residential properties.
"The country's leading real estate developers have in general registered quite good performances in the first half of this year primarily due to their rather balanced portfolio across the country as well as pretty quick response to a changing market scenario," the report concluded.
Xu Jiayin, chairman of Evergrande, said earlier this week that the tightening measures, aimed at curbing speculation, will have negligible impact on large developers, whose operations have covered second and third-tier cities.
Among the top 10 players by value, seven companies managed to sell homes worth 20 billion yuan and more in the first six months, compared with five a year earlier. By area, six developers sold more than 3 million square meters' new houses, compared with only one in the first half of last year.
Shenzhen-based Vanke retained the No. 1 spot after selling a total of 64.42 billion yuan (US$9.96 billion) worth of new houses between January and June while Guangzhou-based Evergrande continuously topped all other domestic rivals by registering six-month residential sales of 6.2 million square meters, according to the half-year report released by China Real Estate Information Corp and China Real Estate Appraisal yesterday.
The two real estate information service providers tracked sales of new houses in nearly 100 major cities developed by companies whose main operations are on the Chinese mainland. Those built under the country's affordable housing programs, however, were excluded.
In the same period of last year, Vanke fetched 35.5 billion yuan from new home sales, and Evergrande unloaded 3.32 million square meters of residential properties.
"The country's leading real estate developers have in general registered quite good performances in the first half of this year primarily due to their rather balanced portfolio across the country as well as pretty quick response to a changing market scenario," the report concluded.
Xu Jiayin, chairman of Evergrande, said earlier this week that the tightening measures, aimed at curbing speculation, will have negligible impact on large developers, whose operations have covered second and third-tier cities.
Among the top 10 players by value, seven companies managed to sell homes worth 20 billion yuan and more in the first six months, compared with five a year earlier. By area, six developers sold more than 3 million square meters' new houses, compared with only one in the first half of last year.
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