M&A hit record high in real estate sector

Merger and acquisitions were the primary driver for the country's real estate management companies last year, involving 1 billion square meters and reaching a record high, according to the latest report by China Index Academy, a real estate research institution.

Meanwhile,the top 100 real estate management companies saw their market share rise to 52.31 percent last year, an increase of 2.6 percent year-on-year. And the floor space under their management reached 56.9 million sq m, up 16.69 percent on a yearly basis.

Their average revenue hit 1.34 billion yuan ($205 million) in 2021, up 14.21 percent year-on-year. And those companies with more striking features are going to have more opportunities, according to the report.

Kaifusai Julaiti contributed to this story