lundi 7 juillet 2025

The top five overseas Chinese real estate developers

 As of July 2025, the top five overseas Chinese real estate developers with notable international projects include:

  1. China Overseas Land & Investment Ltd. (COLI)
    • Famous Projects: One Peninsula in Hong Kong and Marina One in Singapore, showcasing luxury residential and mixed-use developments with a focus on sustainability.
  2. Country Garden Holdings
    • Famous Projects: Forest City in Malaysia, a massive $100 billion township on reclaimed islands, and Danga Bay in Malaysia, a mixed-use development targeting international buyers.
  3. R&F Properties
    • Famous Projects: R&F Princess Cove in Malaysia and R&F Centre in London, blending residential and commercial spaces with a global footprint.
  4. Sunac China Holdings
    • Famous Projects: Sunac Sky Villa in Australia and mixed-use developments in Singapore, emphasizing high-end residential and commercial properties.
  5. Vanke
    • Famous Projects: Vanke Fifth Park in the UK and Vanke Dragon City in Malaysia, known for mid-range to luxury residential complexes with innovative design.

These developers have expanded beyond China, leveraging their expertise in large-scale projects to cater to international markets, though their overseas success varies amid China’s domestic real estate challenges.






Below is a detailed description and history of each of the top five overseas Chinese real estate developers: China Overseas Land & Investment Ltd. (COLI), Country Garden Holdings, R&F Properties, Sunac China Holdings, and Vanke. These accounts are based on available information and observations up to July 2





China Overseas Land & Investment Ltd. (COLI)

Description: China Overseas Land & Investment Ltd. (COLI), commonly known as China Overseas, is a Hong Kong-based real estate conglomerate and an indirect subsidiary of China State Construction Engineering Corporation Limited (CSCECL). It specializes in property development, construction, and infrastructure investment, with a strong presence in Hong Kong, Macau, and mainland China. COLI is renowned for its high-quality residential, commercial, and mixed-use projects, often incorporating sustainable design elements.

History: Founded in June 1979, COLI began as a construction and contracting firm before expanding into property development. It was listed on the Hong Kong Stock Exchange as a red-chip stock in August 1992, marking its entry into the public market. In July 2005, it spun off its construction business into China State Construction International Holdings Limited (CSCI), allowing it to focus more on real estate. By December 2007, COLI joined the Hang Seng Index as a blue-chip stock, reflecting its growing influence. Over the years, it has developed iconic projects like One Peninsula in Hong Kong, a luxury residential complex, and Marina One in Singapore, a mixed-use development blending residential, commercial, and retail spaces. Its success is tied to its state-backed parent, CSCECL, which provides significant financial and strategic support.


Country Garden Holdings

Description: Country Garden Holdings, based in Guangdong, China, is a major property developer owned by the family of founder Yang Guoqiang. Known for its township-style developments, it builds residential projects, including townhouses, condominiums, and commercial spaces like car parks and retail shops. The company also ventures into hotel management and robotics research, reflecting a diversified business model. Despite recent financial challenges, it remains a significant player in the global market.

History: Established in 1992 in Guangdong, Country Garden initially focused on residential projects in southern China. In 2005, Yang transferred his shares to his daughter, Yang Huiyan, who became a prominent figure in the industry. The company went public on the Hong Kong Stock Exchange on April 20, 2007, with Yang Huiyan named Asia’s wealthiest woman by Forbes that October, boasting a net worth of $16 billion. By 2014, it ranked as China’s sixth-largest developer by sales revenue. A notable milestone came in 2015 when Ping An Insurance acquired a 9.9% stake for $800 million. Internationally, its Forest City project in Malaysia, a $100 billion township on reclaimed land, and Danga Bay in Malaysia highlight its ambitious overseas expansion. However, financial troubles emerged in 2023 with a default on $11 billion in offshore bonds amid China’s property sector crisis, leading to a significant sales drop to RMB 375.5 billion in 2023, slipping it to sixth among Chinese developers.


R&F Properties

Description: R&F Properties, headquartered in Zhujiang New Town, Guangzhou, Guangdong, is a leading Chinese real estate company founded in 1994 by Li Silian. It integrates property design, development, engineering supervision, sales, and management, with a focus on luxury and mixed-use developments. The company is known for its international projects and once held a spot in the Hang Seng China Enterprises Index.

History: Launched in 1994, R&F Properties grew rapidly in Guangzhou before listing its H shares on the Hong Kong Stock Exchange on July 14, 2005. It became the first mainland real estate firm to join the Hang Seng China Enterprises Index, though it was removed in 2011. A significant expansion occurred in December 2009 when it partnered with a consortium, including Country Garden, on various projects. In July 2017, R&F acquired 76 hotel projects from Wanda Group for RMB 19.906 billion, boosting its portfolio to over 100 hotels worldwide, making it the largest five-star hotel owner globally at the time. Notable overseas projects include R&F Princess Cove in Malaysia and R&F Centre in London. However, in July 2023, it faced a bankruptcy liquidation filing over a commercial dispute, though the Guangzhou Intermediate People’s Court rejected the application, citing normal operations.


Sunac China Holdings

Description: Sunac China Holdings, based in Tianjin, China, is a major property developer founded in 2003 by Sun Hongbin. It focuses on large-scale, medium-to-high-end residential, commercial, and mixed-use developments, with a growing presence in cultural tourism projects. The company is recognized for its luxury apartments and innovative designs, aligning with its "passion for perfection" philosophy.

History: Established by Sun Hongbin, who previously founded Sunco Group, Sunac began operations in Tianjin before expanding to cities like Beijing, Chongqing, and Wuxi. It went public on the Hong Kong Stock Exchange on October 7, 2010, with an IPO price of HK$3.48 per share. A landmark deal came in July 2017 when Sunac acquired 13 tourism projects and 76 hotels from Dalian Wanda for $9.3 billion, the second-largest real estate deal in China at the time. This acquisition, followed by a $900 million purchase of Wanda’s 13 theme parks in October 2018, solidified its tourism portfolio, including projects like Chongqing Sunac Land (opened 2020) and Guangzhou Sunac Land (2019). Despite strong growth, with profits reaching $3.7 billion in 2019 (up 57% from 2018), the company has faced challenges amid China’s property sector downturn, impacting its overseas projects.


Vanke

Description: Vanke, founded in 1988 by Wang Shi, is a leading Chinese residential real estate developer headquartered in Shenzhen, Guangdong. It operates in over 60 mainland Chinese cities and has expanded internationally to Hong Kong, the UK, the US, and Malaysia since 2012. With Shenzhen Metro as its largest shareholder, Vanke offers a range of properties from affordable units to luxury options, alongside property services and commercial developments.

History: Vanke was established in 1988 and listed on the Shenzhen Stock Exchange in 1991, becoming the second company on that exchange after Shenzhen Development Bank. It achieved the largest market capitalization on the exchange in 2006 and ranked 96th on the Forbes Global 2000 in 2020, with a market cap of $44 billion as of February 2019. International expansion began in 2012, with notable projects like Vanke Fifth Park in the UK and Vanke Dragon City in Malaysia. However, by March 2024, Moody’s downgraded its credit rating to Ba1 due to substantial debt risks, with $4.9 billion in bonds maturing in 2025. In January 2025, CEO Zhu Jiusheng’s detention and a closed Shenzhen government meeting signaled efforts to stabilize the company amid a struggling property market.


These developers have shaped the global real estate landscape with their ambitious projects, though they navigate challenges like debt and market volatility, particularly in 2025.


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