China Development Properties

The Group continues to adopt a selective land acquisition policy with strategic focuses on key Tier 1 or 2 cities in order to secure quality land bank and expected returns. As at the end of June, the land bank of development properties in China was maintained at 3.8 million square metres.

During the first half of 2018, the Group acquired 10 sites in Suzhou, Hangzhou, Foshan and Guangzhou for RMB14 billion (GFA: 677,300 square metres) on an attributable basis. As at the end of June, the net order book increased to RMB21.3 billion for 0.9 million square metres.

China Land Bank Distribution

Region and Key City GFA (s.m) as at 1H18 % of Total
Eastern China
Shanghai 0.1 3%
Suzhou 0.8 21%
Hangzhou 0.6 16%
Wuxi 0.4 10%
Ningbo 0.0 1%
Eastern China Subtotal 1.9 51%
Western China
Chengdu 0.8 21%
Chongqing 0.4 10%
Western China Subtotal 1.2 31%
Southern China
Foshan & Guangzhou 0.4 10%
Northern China
Beijing 0.2 5%
Other Regions
Tianjin, Dalian & Wuhan 0.1 3%
Southern, Northern China and Other Regions Subtotal 0.7 18%
Total 3.8 100%