23 August 2019

CIFI seeks bargains in land market as sector cools, paper says

Lin Feng, chief executive of Shanghai-based property developer CIFI Holdings (Group) Co. Ltd. (00884.HK), is looking for bargain-hunting opportunities in the land market this year as it shifts its focus from the cooling property market, National Business Daily reported Monday. CIFI plans to allocate no less than 11 billion yuan (US$1.79 billion) to expand its land reserve this year, Lin was quoted as saying in an interview. Total home transaction volume in 2014 is expected to fall to the level seen in 2012, and growth in the property market is likely to slow in the next 10 years, Lin said.

– Contact HKEJ at [email protected]



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