NEARLY half the top 20 real estate developers in Guangdong Province were based in Shenzhen, according to an industry report produced by the provincial academy of social sciences and the Guangdong Provincial Economic Research Center.
Shenzhen filled nine places with Vanke Group topping the list for the third consecutive year, followed by Guangzhou, which had eight rankings, the Shenzhen Economic Daily reported yesterday.
The list took into consideration not only the sales revenue of each property developer in 2010, but also net profit and general competitiveness, among other factors, said Feng Shengping, vice director of the research center.
The property industry remained one of the most lucrative businesses this year despite a number of tightening measures implemented by the Central and local governments to curb property speculation and cool the overheated market.
Chinese language media said yesterday that about 60 percent of the country s billionaires and millionaires had invested in real estate. (SD News)
