In the third quarter of this year, property developer Vanke achieved operating revenue of 89.4 billion yuan (US$12 billion), with a net profit attributable to shareholders of 3.7 billion yuan.
Throughout this year, Vanke has acquired 37 new projects with a total land value of 79.4 billion yuan.
Despite favorable government policies since the third quarter, real estate companies still face pressures in sales. Vanke's results are attributed to diversification.
The company is poised for further development through REITs (Real Estate Investment Trusts). In the first batch of publicly offered consumer infrastructure REITs issued on October 26, Vanke's subsidiary, SCPG, took the lead. REITs are pivotal in the transformation of real estate developers and provide investors with additional choices.
As its business model evolves, the primary changes include a new liquidation model, refinement of ceilings for follow-on investments and new exit strategies.
