Country Garden

Country Garden (simplified Chinese: 碧桂园; traditional Chinese: 碧桂園; pinyin: Bìguìyuán; Jyutping: bik1 gwai3 jyun4; SEHK: 2007) is a property development company based in Guangdong, China, owned by Yang Guoqiang's family. In 2020, it is ranked 147th in Fortune Global 500 List.[1] Country Garden features a market capitalization of over US$29.84 billion as of 2018;[5] with more than 200 high-end township developments throughout China, Malaysia and Australia among its vast international project portfolio. The company is incorporated in Cayman Islands.[1]

For the English folk tune, see Country Gardens.
Country Garden Holdings Company Limited
碧桂园控股有限公司
TypePublic[1]
SEHK: 2007
IndustryReal estate, education
Founded1992
FounderYang Guoqiang
Headquarters
Shunde, Guangdong
,
China
Area served
China, Malaysia,[2] Australia[3]
Key people
Chairman: Yang Guoqiang
Largest shareholder: Yang Huiyan
ProductsLanded & high-rise residential, commercial, leisure and hospitality developments
ServicesProperty and facilities management, hotel management, schools
Revenue US$70.335 billion (2019)[1]
US$5.725 billion (2019)[1]
Total assets US$273.79 billion (2019)[1]
Total equity US$21.813 billion (2019)[1]
Number of employees
101,784 (2019)[1]
SubsidiariesCountry Garden Properties (Malaysia) Sdn. Bhd.,[4] Country Garden Danga Bay Sdn. Bhd.[2]
Websitewww.countrygarden.com.cn
Country Garden Holdings Company Limited
Simplified Chinese碧桂园控股有限公司
Traditional Chinese碧桂園控股有限公司

Its headquarters are in Beijiao Town (北滘镇), Shunde District, Foshan.[6]

Background

Established in 1992[7] in Shunde, Guangdong, Country Garden was listed on the Hong Kong Stock Exchange on April 20, 2007, making billionaires of five of its shareholders.

Founder Yang Guoqiang built the company from scratch, having previously worked as a farmer and on construction sites.[8] 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 2014, Country Garden was ranked the 6th largest property developer in China by sales revenue.[9]

2005 share transfer

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 magazine, with a net worth of US$16 billion.[10]

International

Country Garden's first venture outside of China is the Country Garden Danga Bay (CGDB) coastal development in Johor Bahru, Iskandar Malaysia,[2] with a sales figure of US$1.57 billion (MYR5.0 billion) on the day of its official launch.[11] Similarly, its second Malaysian project in Semenyih, Selangor termed Country Garden Diamond City had 70% of its total units for Phase 1 sold in early June 2014.

'Risland Australia',[12] Country Garden's overseas venture in Sydney also garnered strong sales, with 296 apartments at its Ryde Garden[3] development sold within six hours in late June 2014; generating US$169 million (AUD180 million) in the process.[13]

Recent news

On April 2, 2015, Chinese insurance giant Ping An became the second largest shareholder in Country Garden by acquiring 9.9% of the company for US$800 million.[14]

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.[15]

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.[16]

In October 2019, Country Garden, via Walker Corporation, was given approval to develop stage one of South East Wilton.[17] 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.[18]

In February 2020, in response to the COVID-19 pandemic, 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.[12]

See also

Notes
  1. "Country Garden Holdings – Fortune Global 500".
  2. "Country Garden Danga Bay Johor Bahru Iskandar Malaysia".
  3. "Ryde Garden".
  4. http://www.countrygarden.com.my/%5B%5D
  5. "Country Garden Holdings on the Fortune Global 500".
  6. "OFFICE". Country Garden. Retrieved 2021-02-05. Headquarters Address: Country Garden Center，1 Country Garden Road，Beijiao Town, Shunde District, Foshan, Guangdong 528312 PRC
  7. "China's richest woman's wealth rose by $2bn in four days". The Independent. Retrieved 2018-07-30.
  8. hermes (2015-12-18). "Rags-to-riches story behind founder". The Straits Times. Retrieved 2018-07-30.
  9. "Find Out Which Developer Led China's Top 10 for 2014". 6 January 2015.
  10. China's richest person is 26-year old woman: Forbes, Reuters, Oct 8, 2007.
  11. "China developer upbeat on property sales here". Archived from the original on 2015-04-02. Retrieved 2015-04-02.
  12. McClymont, Kate (27 March 2020). "Second developer flew 82 tonnes of medical supplies to China". The Sydney Morning Herald. Retrieved 27 March 2020.
  13. "$300m worth of new units sell in a day". 2 July 2014.
  14. Frangos, Alex (2 April 2015). "Ping An Plants Cash in Country Garden". The Wall Street Journal. Archived from the original on 2019-10-10. Retrieved 2020-09-27.
  15. Reuters Staff (2018-07-31). "China's Country Garden resumes work on most projects after accident: analysts". Reuters. Archived from the original on 2019-10-10. Retrieved 2020-09-27.
  16. "A 'painful lesson' for Chinese developer Country Garden". CNBC. 2018-08-28. Archived from the original on 2019-12-11. Retrieved 2020-09-27.
  17. Su-Lin Tan (11 December 2019). "Walker Corporation and Risland team up to build South East Wilton". Australian Financial Review. Archived from the original on 2020-07-28. Retrieved 27 September 2020.
  18. "We must protect them!". Total Environment Centre. Archived from the original on 2020-07-13. Retrieved 27 September 2020.
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