Evergrande Ranked First in China’s Real Estate Sales Market in Q3

By Prne, Gaea News Network
Tuesday, October 13, 2009


According to the “Sales Ranking of China’s Real Estate Developers in the First Three Quarters of 2009″ released by CRIC, China Real Estate Appraisal and E-house China R&D Institute on October 9th, Evergrande leapt to first place in terms of sales, sold area, area under construction, land reserves and several other key real estate indicators for Q3 of 2009. The leading positions of traditional real estate developers in China are being greatly challenged by other real estate groups. Sina.com was the first media to cover this story, part of which is as follows:

Great changes occur in the rankings of real estate companies in Q3

In the rankings, statistics were provided on the development trends of China’s real estate industry based on six key indicators, including sales and sold area for the first three quarters, sales and sold area for Q3, area under construction, and land reserves as of the end of September. Viewed from the single indicator of sales value, well-established real estate groups still hold certain advantages.

However, statistics also show that traditional real estate tycoons are being surpassed by growing real estate groups in terms of sold area, land reserves, area under construction, and other indicators. Data show that Evergrande leapt to first place with 4.54 million square meters sold in the first three quarters. Greater changes are apparent in the ranking of land reserves. Boasting 51 million square meters of land reserves, Evergrande topped the list, demonstrating its powerful strength once again. Data also shows that real estate companies differed greatly in sales growth rates for Q3. Evergrande ranked first in terms of month-on-month growth in sold area and sales over 100%, leaving other companies far behind.

All statistics point to the fact that many real estate companies have started to challenge those benchmark companies in different indexes, which was most obvious in Q3.

Non-listed companies cut out listed legion

It should be noted that Evergrande, as a representative of the non-listed real estate legion, rose unexpectedly in the ranking and surpassed others in many statistical indicators. One expert commented: “In fact, Evergrande ranked first in five out of the six key indexes.” It is reported that Evergrande ranked fifth in sales value, but climbed to first place in sold area for the first three quarters; it jumped to first place in sold area, sales value, area under construction and land reserves for Q3, ahead of listed real estate legion.

Evergrande leapt to the top of the rankings for Q3 because it worked with companies in possession of project resources by providing project operation capability and fully leveraging operations. On the eve of going public, Evergrande demonstrated its leadership for the future, ranking the first in sold area and sales value for Q3, reaching 2.3 million square meters and RMB 12.3 billion respectively. Evergrande, which was questioned last year, was analyzed as follows: “huge low-cost land reserves, an operation mode featuring rapid turnover and imminent public listing will drive Evergrande to continue its leaping development.”

For more information, please contact: Kevin Fax: +86-10-5895-1005 Email: Kevinmts@sina.com

Source: Sina Leju

Kevin of Sina, fax, +86-10-5895-1005, or Kevinmts at sina.com

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