Country Garden climbs to 129th in Forbes Global 2000 list
Country Garden Holdings has moved up to 129th in the 2019 edition of the Forbes Global 2000 list.
The ranking, released by leading business magazine Forbes on May 16, marked the 10th consecutive year that Country Garden has made into the list.
Together with the Forbes Fortune 500, the two lists are the proven authorities in terms of global company rankings.
The world’s largest and most powerful listed companies are recognised based on four key indicators: sales, profit, total assets and market value.
Notably, with US$237.4 billion (RM992.81 billion) in total assets and US$35.2 billion in market value, Country Garden rose 14 spots, continuing the firm’s continuous enhancement in its ranking since its debut in 2010.
In addition, the firm was also included in the 2019 Brand Finance Global 150 list and the BrandZ Top 50 Most Valuable Chinese Brands list.
Since its establishment in 1992, Country Garden has evolved from a little-known property developer that started with a residential project in Shunde district in Foshan to become an international real estate developer with over 1,900 residential projects across the globe.
Some of its notable projects include Forest City in Iskandar Malaysia and Ryde Park in Sydney, while in China it has property developments spanning more than 700 cities and towns.
According to its financial statement for last year, the company experienced steady growth despite the downturn in the overall Chinese real estate market and curbs put in place by the Chinese government.
Country Garden achieved 501.88. billion yuan (RM301.94 billion) in contract sales last year, representing year-on-year growth of 31.25 per cent.
The real estate developer posted revenue of 379.08 billion yuan (RM229 billion), up 67.1 per cent year on year.
Its gross profit stood at 102.48 billion yuan, up 74.3 per cent year-on-year, while its net profit clocked in at 48.54 billion yuan, a year-on-year rise of 68.8 per cent.