Greentown China Holdings Limited

    Published Date:2013-12-23    Posted by:    Hits:1903

    Greentown China Holdings Limited is one of the leading property developers in the People's Republic of China. It commands a leading position in the industry by leveraging on its quality properties. From 2005 to 2013, we have been ranked for nine consecutive years as one of "the top 10 property enterprises in china" jointly by four authoritative institutions, namely enterprise research institute of the development research center of the state council, china real estate association, qinghua university real estate research center and china index institute.

    On 19 July 2013, China Index Academy issued the "Report of Housing Satisfaction of Urban Residents in China 2013".The satisfaction survey covered 16 major cities, 122 key housing enterprises and 349 urban communities across the nation. Among the cities including Hangzhou, Beijing, Shanghai, Qingdao, Ningbo and Changsha, Greentown Group gets outstanding results and ranks first in the "General Satisfaction of Urban Residents" in six of the cities, first in "Customer Loyalty Rate" in five of the cities.

    Since its establishment 19 years ago, the Group has been based in Zhejiang Province, one of the most economically vibrant provinces in the PRC. With property projects covering most of the economically prosperous cities in Zhejiang Province such as Hangzhou, Ningbo, Wenzhou, Taizhou, Shaoxing and other cities amongst the Top 100 national most competitive county-level cities in Zhejiang Province, the Group has a sizable operation scale and enjoys a wide recognition. Since the commencement of the Group's national expansion strategy in 2000, the Group has successfully set foot in other major cities located in Yangtze River Delta, including Shanghai, Nanjing, Suzhou, Wuxi, Nantong and major cities in Bohai Rim Economic Belt, including Beijing, Tianjin, Qingdao, Jinan, Dalian and other provincial cities, such as Hefei in Anhui Province, Zhengzhou in Henan Province, Changsha in Hunan Province, and Urumqi in Xinjiang, which enabled the operating results to grow continuously and established an excellent brand image in various cities. Greentown focuses on the development of superior-quality properties. Having continuously improved and enriched its product portfolio, Greentown now offers widely-received high quality housing types such as villa, flat mansion, low-rise apartment, high-rise apartment, urban complex, integrated community and commercial property.

    On 8 June 2012, Wharf was introduced as a strategic shareholder of Greentown. The aggregate investment by Wharf amounted to HK$5.1 billion (equivalent to approximately RMB4.16 billion), including the subscription of approximately 490 million placing shares and the subscription of Convertible Securities. As of 30 June 2013, Wharf (through its wholly-owned subsidiary) was interested in 24.36% of the total issued share capital of the Company.

    In addition, Greentown entered into an agreement with Sunac on 22 June 2012, pursuant to which a joint venture, Shanghai Sunac Greentown Investment Holding Co., Ltd. was established, in which 50% equity interest is held by Greentown and 50% is held by Sunac.

    The establishment of strategic partnership with two powerful real estate developers from the PRC and Hong Kong clearly indicates that Greentown's products and development ability are endorsed by professionals in the property industry, and their confidence in Greentown's prospect.

    On 30 June 2013, the premier land bank of the Greentown Group comprised a total GFA of over 41 million sqm, ensuring Greentown Group's sustainable and steady development in the next five years. Leveraging on its quality human resources and highly-effective corporate management structure, Greentown has established a strong presence in all cities where it operates. The Group's experience in developing numerous high-quality projects and outstanding operational capabilities have provided a strong momentum for its further expansion.