Property giant Cheung Kong (Holdings), taking a long-term bullish stance on the mainland's real estate sector, says it will continue to boost its land bank in top-tier cities.
The developer expects Beijing's curbs on property prices to help stabilise a volatile market, paving the way for a smooth development of the industry, said Justin Chiu Kwok-hung, an executive director of Cheung Kong.
'We hope to have more chances to develop several additional mega projects. We are looking for more,' he said.
Asked how much Cheung Kong has slated for new land acquisitions on the mainland, Chiu said the company had no clear-cut budget and would decide on a case-by-case basis.
The company's low leverage could help secure more land supply on the mainland, he said.
Cheung Kong's mainland expansion ambitions coincide with Beijing's renewed efforts to pop the real estate bubble. The government yesterday introduced more curbs on home purchases in second and third-tier cities.