Country Garden (Chinese: ???; Pinyin: Bìguìyuán) (SEHK: 2007) is a property development company based in Guangdong Province, China, owned by Yang Guoqiang's family (Chinese: ???; Pinyin: Yáng Guóqiáng). In 2011, it was named one of Forbes Asia's Fab Top 50 Companies. Country Garden features a market capitalization of over US$8 billion as of 2014; with more than 200 high-end township developments throughout China, Malaysia and Australia among its vast international project portfolio. To date, the company has sold properties to over 1,500,000 homeowners and employ above 70,000 people worldwide.
Video Country Garden
Background
Established in 1992 in Shunde, Guangdong, Country Garden was listed on the Hong Kong Stock Exchange on April 20, 2007, making billionaires of five of its shareholders.
Founder Yang Guoqiang built the company from scratch, having previously worked as a farmer and on construction sites. The company now has interests in property development, construction, fitting and decoration, property management and hotel operations in a wide variety of global markets. In 2014, Country Garden was ranked the 6th largest property developer in China by sales revenue.
In 2005, Yang transferred his shares in Country Garden Holdings Company Limited to his daughter, Yang Huiyan. In October 2007, she was declared the richest woman in Asia by Forbes magazine, with a net worth of US$16 billion. Yang himself remains chairman and chief executive of the company.
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Overseas Forays
Country Garden's first overseas venture outside of China is the exclusive Country Garden Danga Bay (CGDB) coastal development in Johor Bahru, Iskandar Malaysia. With Country Garden Danga Bay, the company unseated market expectations by managing to hit a sales figure of US$1.57 billion (MYR5.0 billion) on the day of its official launch. To date, more than 6000 residents from all over the world call Country Garden Danga Bay their home. Similarly, its second Malaysian project in Semenyih, Selangor termed Country Garden Diamond City had 70% of its total units for Phase 1 sold in early June 2014.
In order to support its long term growth strategy in Malaysia, Country Garden Real Estate Sdn Bhd launched a RM1.5 billion Sukuk Murabahah programme in December 2015, with proposed programme tenure of 20 years. Country Garden has become the first China company as well as the first Hong Kong listed company to tap into the ever-growing Islamic sukuk market.
Country Garden's overseas venture in Sydney, Australia also garnered strong sales, with 296 apartments at its Ryde Garden development sold within 6 hours in late June 2014; generating US$169 million (AUD180 million) in the process.
Recent News
On April 2, 2015, Chinese insurance giant Ping An became the second largest shareholder in Country Garden by acquiring 9.9% of the company for US$800 million.
See also
- Real estate in China
Notes
External links
- Official Website Of Country Garden(GB)
- Official Website Of Country Garden Danga Bay(GB)
- Yang Huiyan is 26 and She's Got $16 Billion
Source of the article : Wikipedia
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