Country Garden

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For the English folk tune, see Country Gardens.
Country Garden Holdings Company Limited
碧桂园控股有限公司
Public Company
Industry Real Estate
Founded 1992
Founder Mr. Yang Guoqiang
Headquarters Shunde, Foshan, Guangdong, People's Republic of China
Area served
 People's Republic of China, Malaysia,[1] Australia[2]
Key people
 Chairman: Mr. Yang Guoqiang
Largest Shareholder: Miss Yang Huiyan
Products Landed & High-Rise Residential, Commercial, Leisure and Hospitality developments
Services Property & Facilities Management, Hotel Operations
Revenue US$20.8 billion[3]
Number of employees
 70,000
Subsidiaries Country Garden Properties (Malaysia) Sdn. Bhd.,[4] Country Garden Danga Bay Sdn. Bhd.[5]
Slogan 5-Star Living For You
Website Country Garden Holdings Company Limited

Country Garden (Chinese: 碧桂園; Pinyin: Bìguìyuán) (SEHK: 2007) is a property development company based in Guangdong Province, China, owned by Yang Guoqiang's family (Chinese: 杨国强; Pinyin: Yáng Guóqiáng). In 2011, it was named one of Forbes Asia’s Fab Top 50 Companies.[6] Country Garden boasts a market capitalization of over US$8 billion as of 2014;[7] 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.

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.[citation needed] 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.[8]

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.[9] Yang himself remains chairman and chief executive of the company.[citation needed]

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.[10] 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.[11] To date, more than 6000 residents from all over the world proudly 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 [12] development sold within 6 hours in late June 2014; generating US$169 million (AUD180 million) in the process.[13]

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.[14]

See also

Notes

  1. ↑ http://www.countrygardendangabay.com.my/
  2. ↑ http://www.rydegarden.com.au/
  3. ↑ http://www.mingtiandi.com/real-estate/finance-real-estate/find-out-which-developer-leads-chinas-top-10-for-2014/
  4. ↑ http://www.countrygarden.com.my/
  5. ↑ http://www.countrygardendangabay.com.my/
  6. ↑ http://www.forbes.com/lists/2011/37/fab-50-11_Country-Garden-Holdings_6KLM.html
  7. ↑ http://www.forbes.com/companies/country-garden-holdings/
  8. ↑ http://www.mingtiandi.com/real-estate/finance-real-estate/find-out-which-developer-leads-chinas-top-10-for-2014/
  9. ↑ China's richest person is 26-year old woman: Forbes, Reuters, Oct 8, 2007.
  10. ↑ http://www.countrygardendangabay.com.my/
  11. ↑ http://dev.nst.com.my/node/3378
  12. ↑ http://www.rydegarden.com.au/
  13. ↑ http://m.theage.com.au/domain/real-estate-news/300m-worth-of-new-units-sell-in-a-day-20140630-zsr5s.html
  14. ↑ http://www.wsj.com/articles/ping-an-plants-cash-in-country-garden-heard-on-the-street-1427971619

External links

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