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China to lead world real estate developers

By Hu Yang (chinadaily.com.cn)
Updated: 2010-03-01 17:05
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China to lead world real estate developers

File photo of Wang Shi. [sina.com] 

In the next five years, the world will see all of its top 10 real estate developers coming from China, real estate tycoon Wang Shi predicted at a forum on Sunday, Sina.com.cn reported.

Wang, chairman of China Vanke Co, the country's largest property developer by market value, made the remarks at the closing ceremony of China Entrepreneur's Forum, held in Yabuli, Heilongjiang province.

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Wang said it's hard to make predictions on this year's property market as there are many uncertainties, pointing out that a bubble is probable due to the large quantity of new money supply last year. But he said he is certain of an upward trend in the following three years.

As an industry leader, Wang's comment is closely watched by the media and fellow developers. In 2007 he said that the inflection point of China's property market had come and caused quite a controversy at the time.
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