Li Ka Shing has not invested in new shares for a long time. So it is news that the most canny speculator of them all is investing in the Evergrande Real Estate Group, a large Chinese real estate company that recently went public with a share offering.
Evergrande ranks number one in five listings, including in floor space sold for the first three quarters, sales revenues and land reserves at the end of the third quarter.
Many industry experts commented that, although some Mainland real estate companies were confronted with the awkward situation of their stock prices sinking below IPO price when they went public in the Hong Kong market, Evergrande’s subscription showed that well-known real estate companies with prime assets can be recognized and favored by investors as prices of Hong Kong shares rise.
In terms of nationwide land reserves, Evergrande ranked number one with land reserves of 51 million square meters. Country Garden ranked second with land reserves of 43.6 million square meters. Vanke and Poly ranked ninth and tenth respectively.
Reuters reported that according to statistics, the average price of its residential projects is RMB5,354 per square meter, up slightly from RMB5,318 per square meter, which was the average price in the first half of this year.
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