The top ten real estate companies have land reserves of 305 million sq m. This was in the Beijing Times, citing data jointly released by the China Real Estate Appraisal (CREA) and the E-house China R&D Institute and the China Real Estate Information Circle System (CRIC).Leading the hoarding horde is the Evergrande Real Estate Group, which has a land reserve of 51 million sq m, followed by the Country Garden Holdings Company Limited, with a land reserve of 43.6 million sq m.
Taking speed of sales in the first three quarters of this year as a guide, it will take Evergrande 8.5 years and Country Garden 13 years to sell their land reserves.
China Daily reports the top ten companies have spent RMB77.9 billion ($11.4 billion) in the first three quarters this year on land reserves, most of which are located in second or third-tier cities in China.