Top Biz News
Real estate developer Vanke capitalizes on growth
By Hu Yuanyuan (China Daily)
Updated: 2010-03-02 10:45
 |
Large Medium Small |
 |
|
Mao Daqing, vice president of China Vanke Co Ltd. |
Due to the rebound in China's real estate sector last year, Vanke's contracted sales hit 63.4 billion yuan, the company said in a statement. And it expects sales to rise at least 20 to 30 percent in 2010.
Vanke shares, which have fallen 13 percent this year compared with a 7 percent drop in the CSI 300 Index, climbed 0.1 percent on Monday to close at 9.44 yuan in Shenzhen.
"Selling only decorated, environment-friendly homes built in a highly industrialized way is Vanke's strategic focus for 2010," Mao Daqing, vice-president of China Vanke Co Ltd, told China Daily in an exclusive interview.
All these efforts, Mao said, are aimed at reducing energy consumed in the building process and to improve operational efficiency, which are the company's competitive strengths compared to its rivals.
Industry statistics show that decorating a 90 square meter apartment will produce 2 tons of garbage, with half of them being non-biodegradable. But uniform decoration by property developers could cut this waste by more than half.
|
||||
"China Vanke plans to produce 1 million sq m of residential apartments through highly industrialized methods this year, among which one fifth will be constructed in Beijing," Mao said.
