Country Garden pivots towards India, saying urban development ‘more than 10 years behind China’

Chinese property giant Country Garden said it is actively looking for investment opportunities in India, where it plans to acquire at least one residential land parcel by the end of 2017.

Developers from China have been making headlines in recent years for their ambitious overseas plans to build projects in popular destinations such as the US, UK and Australia.

But Country Garden, a Guangdong-based homebuilder, has adopted a different strategy. They have focused their expansion on the neighbouring countries, from Malaysia to Indonesia, and now they are looking towards India, the world’s sixth-largest economy.

Mo Bin, Country Garden’s president and executive director said in Hong Kong that the company sees big potential in India.

“The population in India has almost surpassed that of China, and its economic growth is the fastest in the world,” Mo said.

“We got very excited after visiting India, as their urban development is more than 10 years behind China.”