China property spin-offs gather pace

摘要

Following a wave of property management spin-offs in recent years, Chinese real estate developers are now beginning to monetise their construction businesses. GREENTOWN MANAGEMENT, the project management arm of Hong Kong-listed Greentown China, is planning a US$250m Hong Kong IPO this year while Agile Group is looking to spin off its construction management unit agile city to raise about US$300m-$400m. Both companies were among the first batch of property developers to spin off their property management units a few years ago before it became a trend. Listing the construction arms may now become the new fashion in the sector.