Sunac exec says property restrictions will stay

Business | 6 Nov 2019 7:55 pm

It is unlikely the mainland government will ease  restrictions on the property market and developers should realize this new norm, said Sun Hongbin executive director of Sunac (1918) in speech, reported by mainland media.

He expects the top five mainland property developers to account for 30 percent of the market after five years, as compared with the current 18 percent market share.

China Overseas Land & Investment (0688) said contracted sales last month increased by 15.2 percent year-on-year to HK$28.19 billion.

Meanwhile, China Overseas Grand Oceans (0081) said contracted property sales amounted to HK$5.89 billion, up 70.5 percent from a year ago.

Shui On Land (0272) reported its October contracted sales grew by 1.5 times from a year ago to 1.43 billion yuan (HK$1.6 billion).

China SCE Property (1966) reported that October contracted sales rise by 7 percent from a year ago to 6.1 billion yuan.

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