Country Garden is a property development company based in Guangdong, China, owned by Yang Guoqiang's family. In 2018, it is ranked 353rd in Fortune Global 500 List. Country Garden features a market capitalization of over US$29.84 billion as of 2018; with more than 200 high-end township developments throughout China, Malaysia and Australia among its vast international project portfolio.
Background
Established in 1992 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. 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.
Country Garden's first venture outside of China is the Country Garden Danga Bay coastal development in Johor Bahru, Iskandar Malaysia, with a sales figure of US$1.57 billion on the day of its official launch. 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', Country Garden's overseas venture in Sydney also garnered strong sales, with 296 apartments at its Ryde Garden development sold within six hours in late June 2014; generating US$169 million in the process.
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. 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 MinisterMahathir Mohamad reportedly said he intends to ban foreigners from buying homes being built by Country Garden in the southern tip of the country. 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.
