Sunac China to go steady on land purchasesBusiness | 22 Aug 2019 3:50 pm
Wang Mengde, the chief executive of Sunac China (1918) said the developer will control the pace of investment in acquiring lands.
Wang believes that tightening financing regulations for real estate developers in the mainland is ongoing, but that Sunca China has cash flow.
Chairman Sun Hongbin, expects regulations to have an impact on the land market, sales of commodity houses and mortgages, and home-buyers will not rush to purchase houses.
He said regulations will have a greater impact on tier-three and tier-four cities than the tier-one and tier-two cities.
Vice president and secretary Gao Xi said the company currently has a land reserve of 213 million square meters, worth 2.82 trillion yuan.