Country Garden () is a property development company based in
Guangdong
Guangdong (, ), alternatively romanized as Canton or Kwangtung, is a coastal province in South China on the north shore of the South China Sea. The capital of the province is Guangzhou. With a population of 126.01 million (as of 2020 ...
, China, owned by
Yang Guoqiang
Yang Guoqiang (; born October 9, 1954, in Shunde, Guangdong), is a Chinese entrepreneur, the founder and chairman of Country Garden Group, one of the largest real estate developers in Guangdong Province, Mainland China.
The Country Garden Grou ...
's family. In 2020, it is ranked 147th in
Fortune Global 500
The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by ''Fortune'' magazine.
Methodology
Until 1989, it listed onl ...
List.
Country Garden features a
market capitalization
Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders.
Market capitalization is equal to the market price per common share multiplied by ...
of over US$29.84 billion as of 2018; with 187 high-end township developments throughout China,
Malaysia
Malaysia ( ; ) is a country in Southeast Asia. The federal constitutional monarchy consists of thirteen states and three federal territories, separated by the South China Sea into two regions: Peninsular Malaysia and Borneo's East Mal ...
and Australia among its vast international project portfolio. The company is incorporated in
Cayman Islands
The Cayman Islands () is a self-governing British Overseas Territory—the largest by population in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located to the ...
.
[
Its headquarters are in Beijiao Town (北滘镇), ]Shunde District
Shunde District, also known as Shuntak, is a district of the city of Foshan, Guangdong province, located in the Pearl River Delta. It had a population of 2,464,784 as of the 2010 census. Once a traditional agricultural county, it has become one ...
, Foshan
Foshan (, ), alternately romanized as Fatshan, is a prefecture-level city in central Guangdong Province, China. The entire prefecture covers and had a population of 9,498,863 as of the 2020 census. The city is part of the western side of the ...
.
History
Established in 1992 in Shunde, Guangdong, Country Garden was listed on the Hong Kong Stock Exchange
The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is rep ...
on April 20, 2007. Founder Yang Guoqiang built the company from scratch, having previously worked as a farmer and on construction sites. 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 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
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...
'' magazine, with a net worth of US$16 billion.
In 2014, Country Garden was ranked the 6th largest property developer in China by sales revenue.COVID-19 pandemic
The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identi ...
, the Sydney office of a Country Garden subsidiary, Risland Australia, sourced 82 tonnes of supplies, which were subsequently airlifted to Wuhan. This daigou operation has caused concern in Australia.
International developments
Country Garden's first venture outside of China is the Country Garden Danga Bay (CGDB) coastal development in Johor Bahru
Johor Bahru (), colloquially referred to as JB, is the capital city of the state of Johor, Malaysia. It is located at the southern end of Peninsular Malaysia,along the north bank of the Straits of Johor, opposite of the city-state Singapore. ...
, Iskandar Malaysia
Iskandar Malaysia, formerly known as Iskandar Development Region (IDR; ms, Wilayah Pembangunan Iskandar) and South Johor Economic Region (SJER), is the main southern development corridor in Johor, Malaysia. It was established on 8 November 20 ...
,
Controversy
In Jun 2018, Country Garden halted all projects in China for security inspections following an accident at its construction site in the eastern province of Anhui that killed six people.
In Aug 2018, Malaysia's Prime Minister Mahathir Mohamad reportedly said he intends to ban foreigners from buying homes being built by Country Garden in the southern tip of the country.
In October 2019, Country Garden, via Walker Corporation, was given approval to develop stage one of South East Wilton in Sydney Australia. This is controversial because the eastern side of the site will cut Koala corridors along Allens Creek. The Greater Macarthur area, of which South East Wilton is the most southern section, is home to the largest recovering Koala colony in New South Wales.
See also
*Real estate in China
Real estate in China is developed and managed by public, private, and state-owned red chip enterprises.
In the years leading up to the 2008 financial crisis, the real estate sector in China was growing so rapidly that the government implemented ...
Notes
External links
*
Official Website Of Country Garden
GB)
Official Website Of Country Garden Danga Bay
GB)
{{Hang Seng China Enterprises Index
Companies listed on the Hong Kong Stock Exchange
Real estate companies of China
Privately held companies of China
Companies based in Foshan
Shunde District