Country Garden

Country Garden Holdings Company Limited
碧桂园控股有限公司
Public
Traded as SEHK: 2007
Industry Real Estate, Education
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, Schools
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.[1]
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.[5] Country Garden features a market capitalization of over US$8 billion as of 2014;[6] 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 employs over 70,000 people worldwide.

Background

Established in 1992[7] 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.[8] 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.[3]

2005 share transfer

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.

International

Country Garden’s first venture outside of China is the Country Garden Danga Bay (CGDB) coastal development in Johor Bahru, Iskandar Malaysia[1], with a sales figure of US$1.57 billion (MYR5.0 billion) on the day of its official launch.[10] 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 launched a RM1.5 billion Sukuk Murabahah program in December 2015, with proposed 20 year tenure. Country Garden has become the first Chinese 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 [2] development sold within 6 hours in late June 2014; generating US$169 million (AUD180 million) in the process.[11]

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.[12]

Complaints

After slashing prices at one of their residential developments by one-third, Country Garden sales offices were attacked by angry buyers[13] who, as early buyers, had paid full price.

See also

Notes

  1. 1 2 3 "Country Garden Danga Bay Johor Bahru Iskandar Malaysia".
  2. 1 2 "Ryde Garden".
  3. 1 2 "Find Out Which Developer Led China's Top 10 for 2014". 6 January 2015.
  4. ↑ http://www.countrygarden.com.my/%5Bpermanent+dead+link%5D
  5. ↑ "Country Garden Holdings - Forbes.com".
  6. ↑ "Country Garden Holdings on the Forbes Asia's Fab 50 Companies List".
  7. ↑ "China's richest woman's wealth rose by $2bn in four days". The Independent. Retrieved 2018-07-30.
  8. ↑ hermes (2015-12-18). "Rags-to-riches story behind founder". The Straits Times. Retrieved 2018-07-30.
  9. ↑ China's richest person is 26-year old woman: Forbes, Reuters, Oct 8, 2007.
  10. ↑ "China developer upbeat on property sales here".
  11. ↑ "$300m worth of new units sell in a day". 2 July 2014.
  12. ↑ Frangos, Alex (2 April 2015). "Ping An Plants Cash in Country Garden" – via Wall Street Journal.
  13. ↑ "Country Garden cut the selling price at one of its residential developments by 1/3. Those who paid full price smashed the sales office" – via Twitter.
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