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Property Developers Who Meet General Public Demands Will Lead Chinese Real Estate Market Growth

Posted on: Friday, 16 October 2009, 19:00 CDT

BEIJING, Oct. 16 /PRNewswire-Asia/ -- According to the "Sales Rankings of Chinese Real Estate Companies for Q3 2009" report released on October 9 by CRIC (China) Information Technology Co., Ltd., in cooperation with China Real Estate Appraisal and Shanghai E-house R&D Institute, the ranking of the country's leading real estate developers showed some dramatic changes during the third quarter. During the July-September period, fast-rising Evergrande Real Estate sold 2.303 million square meters of floor space, with sales revenue of RMB 12.33 billion, topping both lists. In addition, leveraging their products with outstanding price-performance ratios, developers such as Evergrande Real Estate, Poly Real Estate and Gemdale took the lead in the Chinese property market during the National Day holiday. How should we consider such changes in China's real estate market? And how will those changes impact the market? Sina Leju was the first media source to announce the release of this report.

"Following several months of increase, current prices for homes are far higher than just a few years ago. However, demand remains strong. It remains crucial to provide cost-effective, high-quality residential housing to the general public," said an analyst at Diheng Real Estate Consulting. "Today, an increasing number of real estate developers are seeking to grab a larger share of the market by offering products with outstanding price-performance ratios. Property developers that meet the demand of general home buyers are the ones who will lead the growth of the Chinese real estate market."

Evergrande's Board Chairman Xu Jiayin said at the company meeting in 2006 that: "China's real estate sector has entered a new era. The key to realizing further development is to continue our quality-focused strategy and strengthen our leadership through quality products, while further enhancing our brand recognition globally."

In the past several years, Evergrande Real Estate Group has achieved its core objective of developing properties with good price/performance ratio by consistently implementing an operating strategy based on standards for quality products. The company is dedicated to complying with high standards in the process of real estate development, regardless of high-end, mid-end or travel- focused products.

According to reports by Chinese media, Xu Jiayin, Chairman of Evergrande Real Estate Group, said on January 25, 2008 at the signing ceremony for a strategic alliance that the company will be firmly committed to providing its customers with prestigious and excellent properties, no matter if they are high-end, mid-end or travel-focused products, by cooperating with well-known builders, in a move to offer its property owners peace of mind.

Industry insiders point out that Evergrande Real Estate Group has been implementing its strategy focused on excellence for many years. The company has successfully developed its projects with excellence and standardization in mind throughout the country, and has built a good reputation in Chinese major cities for its quality products, which have become a benchmark in China's real estate sector.

Rational pricing plays an important role in helping Evergrande Real Estate Group surpass its counterparts. Pricing is undoubtedly the most critical factor affecting buyers and sellers in China's domestic real estate market. Particularly, an appropriate pricing strategy proved to be quite important when the real estate market experienced decreases in both transaction volume and selling price in 2008. Evergrande Real Estate Group insisted on its "low- profit marketing" approach in the first three quarters of 2009, allowing the company to report solid performance while benefiting its customers.

SOURCE Sina Leju

Source: PR Newswire

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