Sales are likely to recover later this year as we expect the Chinese property market to have reached the bottom on the back of a few bankruptcy proceedings.
The consensus forecast suggests that projected purchases will grow by 20% this and next year. While not all projected sales will materialize, this estimate is far higher than in the previous years.
Another positive fact is that China Resources has expanded its large land bank in the biggest mainland cities in recent years, and its strong project management has helped it avoid other developers’ woes.