Report
UOB
Nick Liu Sunliang ...
  • Shaun Tan

China Property - Embracing megacity clusters.

With the government’s efforts to foster and develop city clusters in China, we see
huge housing demand in core metroplolitan areas arising from urbanisation and
cross-regional population flows into those areas. The YRD and GBA will remain the
main magnets for population in the future, given their vast potential. Urbanisation
rates in YRD (68.5%) and GBA (84.4%) are higher than in the rest of China (59.58%).
Maintain OVERWEIGHT. Our top picks are CIFI, Ronshine and Times China.
Underlyings
CIFI Holdings (Group) (P Chip)

CIFI Holdings is an investment holding company based in the People's Republic of China. Co. is engaged in property development, property investment and provision of property management and property related services. Co.'s residential property development activities focus on developing quality, mass market residential properties with small-to-medium unit sizes, comfortable living environment and locations with good public transportation links. Co.'s commercial property development activities focus on developing office properties-for-sale. Additionally, Co. provides property management services to residential and commercial customers through the property management companies.

KWG Group Holdings

KWG Property Holding is an investment holding company. Co.'s portfolio provides different types of products, which include mid- to high-end residential properties, serviced apartments, villas, office buildings, hotels and shopping malls. Co.'s segments include: property development, which is engaged in the sale of properties; property investment, which is engaged in leasing of properties; hotel operation, which is engaged in the operation of hotels; and property management, which is engaged in the provision of property management services.

Ronshine China Holdings Ltd

Times China Holdings (P Chip)

Times Property Holdings is a property developer in China, focusing on the development of mid-market to high-end residential properties. Property development is the development of residential and commercial properties for sale. Property leasing is the development, leasing and sub-leasing of commercial properties owned by Co. or independent third parties. Property management is the provision of property management services to Co.'s residential customers. Co. has expanded its business to Guangzhou, Foshan, Zhuhai, Zhongshan, Qingyuan and Changsha.

Zhenro Properties Group

Zhenro Properties Group Ltd. Zhenro Properties Group Limited is an investment holding company principally engaged in the sale of properties. Along with its subsidiaries, the Company provides sales of properties, property leasing business, provision of commercial property management services, and sales of goods and provision of design consultation services.

Provider
UOB
UOB

Analysts
Nick Liu Sunliang

Shaun Tan

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