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Leading Chinese real estate companies on the Fortune China 500 ranking 2020

On the 2020 Fortune China 500 ranking for real estate companies, China’s leading real estate developer Country Garden ranked first again with a total revenue of 485.91 billion yuan, followed by Evergrande Group and Greenland. Evergrande ranked second with revenue growth from around 466.2 billion yuan in 2018 to 477.56 billion yuan in 2019.

Real estate market in China

  In the last 20 years, China’s real estate market has experienced its most prosperous development. Land purchase has also become an important source of financial revenue for many local governments. The housing price increased so rapidly, especially in larger cities, that the government had to take measures to restrict investment. With the slowdown of China’s economic development and gradually saturated market, people are also afraid of the burst of the real estate bubble. While the real estate price in smaller cities tended to stay stable or even decrease, there is still growing potential for real estate prices in larger cities, especially the first-tier cities. China’s consumers are increasingly interested in the high-quality real estate products built by leading real estate developers.

Leading real estate developers in China

  Compared to the ranking in 2019, there was only one new members entering the leading ten real estate developer club in 2020. The larger developers became stronger as they had advantages in land acquisitions, financing, marketing and pricing power which is difficult for smaller developers to catch up with. Thus, consolidation is also very common among China’s real estate developers. The developer Sunac has grown rapidly these past years through several large acquisitions of other companies. The leading developers focus mainly on the development of high-quality real estate products with higher added value. Due to the high costs of land acquisition and construction in larger cities, some leading developers are starting their development projects in smaller cities where there are a lack of high-quality real estate products.

Leading Chinese real estate companies on the Fortune China 500 ranking as of 2020, by revenue

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Source

Release date

July 2020

Region

China

Survey time period

2020

Supplementary notes

Figures refer to annual revenues in 2019.

Note: 1 yuan is equal to approximately 0.15 U.S. dollars and 0.13 euros (as of September 2020).

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Statistics on "Real estate in China"

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