Source: Economic Information, ChinaScope
Financial (Data)
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According to latest data, China Vanke (000002:
SHE) has acquired 17 land parcels since August. Meanwhile, China Vanke, China
Resources Land (1109: HKG), and China Merchants Property Development (000024:
SHE) have spent CNY 13.4 billion, CNY 5.4 billion and CNY 4.5 billion,
respectively, on land purchase since August, surpassing the total figure over
the first seven months.
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Industry insiders say that the large-scale
land purchases among developers since August was seen for the first time since
China started policy control on the property market in 2011. After destocking
land reserves over the past 20 months, developers are in urgent need to
replenish their land reserves for future development. Furthermore, the
financial status of developers has improved given the recovering housing
transactions over the past months and local governments’ increasing land
supply, which heats up the land market to some extent.
Vanke (000002: SHE) and Longfor (0960: HKG) are
leading the recent acceleration in land acquisitions.
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