Author:
Gordon Platt
COMPANY TO WATCH: COLI/CHINA
China Overseas Land & Investment (COLI), a subsidiary of China State Construction Engineering, could be a beneficiary of China’s economic stimulus package. China’s largest developer by market value, COLI also focuses on infrastructure investment.
The Hong Kong-listed developer is controlled by China’s ministry of construction. It develops property in 20 mainland cities, as well as in Hong Kong and Macau. COLI says its property sales in the first two months of 2009 totaled $503 million, an increase of 69.4% from the same period a year earlier. Kong Qingping, COLI’s chairman, believes China’s property market has bottomed out and that the overall real estate environment will improve in 2009.
With its geographically diversified real estate portfolio, COLI is well positioned to benefit from a consolidation in China’s real estate sector.
The company says there is strong demand for land in central and eastern China, particularly in the Yangtze River delta. COLI has a total land reserve of more than 25 million square meters, which it says is sufficient to meet its development needs for the next four to five years.
Gordon Platt
China Overseas Land & Investment (COLI), a subsidiary of China State Construction Engineering, could be a beneficiary of China’s economic stimulus package. China’s largest developer by market value, COLI also focuses on infrastructure investment.
The Hong Kong-listed developer is controlled by China’s ministry of construction. It develops property in 20 mainland cities, as well as in Hong Kong and Macau. COLI says its property sales in the first two months of 2009 totaled $503 million, an increase of 69.4% from the same period a year earlier. Kong Qingping, COLI’s chairman, believes China’s property market has bottomed out and that the overall real estate environment will improve in 2009.
With its geographically diversified real estate portfolio, COLI is well positioned to benefit from a consolidation in China’s real estate sector.
The company says there is strong demand for land in central and eastern China, particularly in the Yangtze River delta. COLI has a total land reserve of more than 25 million square meters, which it says is sufficient to meet its development needs for the next four to five years.
Gordon Platt
