Sunday, October 18, 2009

Financial Crisis Tests Chinese Real Estate Companies' Ability to Deal with Risks

Posted by Ka Lee Angel Lee

BEIJING, Oct. 17 /PRNewswire-Asia/ -- Evergrande Real Estate Group tops the"Sales Rankings of Chinese Real Estate Companies for Q3 2009", in terms offloor space sold for the first three quarters of 2009, area of projects underconstruction, land reserves, as well as floor space sold and sales revenue forthe third quarter. Sina Leju was the first media source to announce therelease of this report.

This is a perfect case of a complete revival after nearing the brink ofbankruptcy: just a year ago, this real estate company was suffering from ahost of rumors about the suspension of its IPO. How did Evergrande RealEstate Group manage to come back from the dead following the double whammy ofthe financial crisis and the IPO suspension? Finding out answers to thisphenomenon will certainly allow other China-based real estate firms to learnfrom their experience in coping with crises.

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