Guangzhou-based Yihe Real Estate has put its residential and hotel projects up for sale in Hong Kong, in what is seen as a prelude to the developer's proposed floatation in the city.
'We are considering the listing, but we do not have a timetable,' said chairman and president He Jiangliang in response to speculation that the company hopes to list on the exchange this year.
Yihe Real Estate has more than 20 properties in cities including Guangzhou, Beijing, Shenyang, Yinchuan, Kunming and Xian, comprising a land bank of 10 million square metres in gross floor area.
'Our target is to increase that to 13 million to 15 million square metres,' he said.
This year, the company's major development is a 1.8 million square metre housing project in Anshan, Liaoning province.
Yihe Real Estate bought the site in November for 1.2 billion yuan (HK$1.36 billion).
Total investment, including the land cost, is about five billion yuan, according to the company's official website. 'This year, we will develop the first phase of 200,000 square metres,' He said.