Chairman expects strong growth in city's market in next 20 years
Beijing property developer Soho China says it will keep its development focus on the capital in anticipation of strong growth in the city's property market over the next 20 years.
Other first-tier cities will still be outside the company's considerations, chairman Pan Shiyi says.
'It is not possible for a Beijing-based developer to make the same level of profit after going out of the city,' Mr Pan said in an interview with the South China Morning Post.
'Beijing is still a growing city and many people are rushing into it. We won't change our strategy [focus on the Beijing market],' Mr Pan said.
'The property market [in Beijing] should continue to be hot, as the economy in China is still recording double-digit growth,' he said, adding that Beijing and Shanghai were the economic growth engines and so were their property prices.