KWG Property

Last updated • 4 min readFrom Wikipedia, The Free Encyclopedia
KWG Group Holdings Limited
合景泰富集團
Public
Traded as SEHK:  1813
Industry Real estate
Founded1995
Headquarters,
Key people
Chairman: Mr. Kong Jianmin CEO: Mr. Kong Jiantao
Website www.kwggroupholdings.com

KWG Group Holdings LimitedHKEX:1813)( formerly known as KWG Property Holding Limited) is a leading comprehensive urban operator in China. Founded in 1995, the Group is principally engaged in real estate development and sales, and has a foothold in diversified business segments, including city-industry integration, education, hotels, long-term rental apartments, culture and tourism, and healthcare. The Group offers a wide range of products comprising mid- to high-end residential properties, villas, serviced apartments, offices, hotels, and shopping malls. [1]

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KWG Group has always been widely recognized in the industry and has won numerous awards. It has been named among the “Top 10 PRC Property Development Enterprises by Comprehensive Strength”, “Top 10 PRC Property Companies Listed in Hong Kong by Comprehensive Strength” and “Top 20 PRC Real Estate Enterprises by Brand Value” by the China Real Estate Association and China Index Academy, respectively. It has also received the PRC Real Estate Golden Brick Award - Annual Real Estate Comprehensive Strength Award. [2]

Committed to its development strategy of “Rooted in Guangzhou and Extend Our Presence across the Country”, the Group has expanded to nearly 40 cities including Guangzhou, Beijing, Shanghai and Hong Kong, covering the Greater Bay Area, the Yangtze River Delta, the Bohai Economic Rim and the major urban economic zones in the central and western regions with a strong focus on the development of tier-one and tier-two cities. [3]

KWG Group was listed on the Hong Kong Stock Exchange on 3 July 2007.

In 2017, the Group's total assets increased from RMB18.975 billion at the time of listing in 2007 to RMB115.055 billion in the first half of 2017, realizing a value expansion of almost tenfold. With a healthy and sound financial structure and abundant cashflow, the Group is able to speed up its development process and expand its business scale. [4] As of 31 December 2018, the total assets of KWG Group amounted to approximately RMB184.5 billion, with a total attributable gross floor area of approximately 16.58 million sq.m. [5]

Business Expansion

KWG Group has established its presence in nearly 40 cities including Guangzhou, Beijing, Shanghai and Hong Kong, covering the Yangtze River Delta, the Greater Bay Area and other major urban economic zones with approximately 150 premium projects developed. It also offers after-sales services integrating four major systems, including property management, customer service, member management and KWG Cloud. The Group provides one-stop comprehensive smart services for its property owners and customers to support closed-loop urban living. The synergistic development of real estate, city-industry integration, education, hotels, long-term rental apartments, culture and tourism, healthcare and other after-sales service systems will become a new driver for the rapid and balanced growth of KWG. [6]

In September 2009, KWG Group won the bid for the land of Pearl River New Town in Guangzhou, setting a record for the price per square meter in the same district. Subsequently, KWG Group acquired the remaining equity of The Summit from Dongling Holding Co., Ltd, a developer of The Summit Project, at a land premium of RMB2.495 billion.

On 24 February 2017, KWG Group partnered with Logan Property to successfully acquire the residential land of Ap Lei Chau Inland Lot No. 136 at a land premium of HK$16.855 billion. With a site area of 126,500 square feet and a total floor area of 760,000 square feet, the floor price of the project could reach HK$22,120 per square foot, expected to become the highest priced property in Hong Kong.

On 16 May 2017, KWG Group partnered with Longfor Properties to successfully acquire the residential land of New Kowloon Inland Lot No. 6567 at a land premium of HK$7.23 billion. The site area is 104,600 square feet and the maximum floor area is 575,500 square feet. The floor price is HK$12,563 per square foot. The project was named Upper River Bank in February 2019. It consists of high-rise twin buildings and low-rise riverside houses. The room types range from one-bedroom to four-bedroom, with two-bedroom and three-bedroom accounting for over 70%. Special units are also available. The project can provide 667 apartments in total. [7]

In August 2018, KWG Group announced that the English name of the Company has been changed from “KWG Property Holding Limited” to “KWG Group Holdings Limited”. A new logo has also been adopted. The new name not only establishes a new corporate identity for the Company, but also better reflects the Group’s business expansion strategies, which is in the best interests of the Company and its Shareholders as a whole. [8]

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