Update | China Vanke retains No 1 homebuilder crown with 2015 sales of HK$312.7b amid takeover battle

China Vanke, the mainland home builder undergoing a power struggle for control of the company, saw its gross property sales grow by 24 per cent in 2015, elevating the company into the No 1 spot among mainland China property developers for a fifth straight year, according to data released Friday.

China Vanke’s 2015 sales totalled 262.7 billion yuan (HK$312.66 billion), according to full year figures released by China Real Estate Information Corp (CRIC). Evergrade Real Estate, the property group controlled by billionaire Hui Ka Yan, trailed in the No 2 spot with gross sales of 205.04 billion yuan.

China Vanke has topped the league tables for China developers since 2011, the first year that the data was compiled by CRIC.

State-owned Greenland Group took the No 3 spot with sales of 201.51 billion yuan, nudging out Wanda Group, which ranked as the fourth largest with sales of 151.26 billion yuan.

Fifteen out of 20 selected leading developers had achieved their full year sales target in 2015, according to CRIC, which said the data indicates China’s housing market remains on track for recovery.