Drastic Changes to Presale Unlikely; Market Overreaction Provides Entry Point for Quality Developers
Chinese media outlets reported on Sept. 21 that the Guangdong Real Estate Association had issued a notice, "Emergency Notice on Opinions Regarding Pre-sales Permits for Commodity Housings." The notice referenced a document from the Ministry of Housing and Urban-Rural Development. The MOHURD document contains a paragraph requesting six provincial branches of MOHURD to provide comments on modifying the current presale practice. The current presale practice allows a developer to receive sales proce...Country Garden Holdings is an investment holding company. Through its subsidiaries, Co. is engaged in the property development, construction, fitting and decoration, property management and hotel operation. Co. provides a range of products including residential projects such as townhouses, condos, as well as car-parks and retail shops. Co. also develops and manages hotels within some of its projects, and operates independent hotels. As of Dec 31 2014, excluding Guangdong province, Co. had property development operations in a number of selected locations in 23 provinces/ municipalities/autonomous regions in China.
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