Xinyuan Real Estate Co., Ltd. (Chinese: ????; pinyin: X?nyuàn Zhìyè) is a Chinese real estate company.
Principally engaged in residential real estate development and the provision of property management services, it focuses on Tier II cities in China.
Video Xinyuan Real Estate
History
Xinyuan is a real estate developer building large-scale residential projects for middle-income consumers in China's Tier II cities. The company was founded in 1997 in Zhengzhou, China and puts up developments aimed at providing middle-income consumers with a community lifestyle. Xinyuan's team has capitalized on China's rapid economic growth by utilizing a standardized and scalable business model that emphasizes high asset turnover, efficient working capital management and strict cost control and their national establishment covers six high-growth Tier II cities: Chengdu, Hefei, Jinan, Kunshan, Suzhou, and Zhengzhou. They have a total of 26 projects and more than 3 million square meters of GFA developed, under construction and under planning.
On December 7, 2005, Forte (Group) Co. Ltd announced that its subsidiary Shanghai Xinyuan Real Estate Development Co. Ltd had successfully acquired 30% stake of Shanghai Baisi Property Co.
Xinyuan was selected as one of "China's Sixty Best Employers for 2007" in a survey conducted by China Central Television.
Xinyuan's holding company is based in the Cayman Islands. On 18 April 2008, Xinyuan's corporate headquarters was relocated from Zhengzhou to Beijing.
The China Real Estate Top 10 Committee has selected Xinyuan as one of "China's Top 10 Overseas-Listed Real Estate Developers", and has awarded it the "Top 100 Chinese Real Estate Companies with Greatest Growth Potential Award" once, and the "Top 100 Chinese Real Estate Companies Award" thrice consecutively.
On 12 December 2007, Xinyuan made an initial public offering, becoming the first Chinese real estate developer to become listed on the New York Stock Exchange. Underwritten by Merrill Lynch, Deutsche Bank Securities, and Allen & Co, Xinyuan's initial public offering raised US$245m in capital. China Analyst reports that Xinyuan's stock is the 2nd fastest growing within its respective industry as of March 2010.
Joint ventures
Xinyuan has joint ventures with Blue Ridge Capital, China Construction Bank, and Equity International.
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Services and subsidiaries
Xinyuan provides landscaping and intercom systems installation services through two of its 11 subsidiaries, Zhengzhou Mingyuan Landscape Engineering Co., Ltd. and Zhengzhou Xinyuan Computer Network Engineering Co., Ltd. Its construction contracts typically provide for fixed or capped payments, but the payments are subject to changes in government-suggested steel prices. The contractors are typically responsible for procuring the necessary raw materials, as well as providing engineering and construction services. The Company procures certain ancillary fixtures for installation, such as elevators, windows and entrance doors. Its major suppliers are suppliers of power distribution boxes, elevators, plastic-steel windows, doors and heat sinks.
Markets
As of December 31, 2007, the Company operated in six markets: Chengdu in Sichuan Province; Hefei in Anhui Province; Jinan in Shandong Province; Suzhou and Kunshan in Jiangsu Province, and Zhengzhou in Henan Province. It offers three main types of real estate property products: multi-layer apartment buildings, which are typically six stories or less and normally require 9 to 12 months to construct after the Company obtain the related construction permit; sub-high-rise apartment buildings, which are typically 7 to 11 stories and normally require 12 to 18 months to construct after the Company obtain the related construction permit, and high-rise apartment buildings, which are typically 12 to 33 stories and normally require 18 to 24 months to construct after it obtain the related construction permit.
Projects
As of 2007, Xinyuan had 13 completed projects and 14 in development or planning.
See also
- Real estate in China
- Beijing Financial Street
References
External links
- Xinyuan Real Estate Company website
Source of the article : Wikipedia
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