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Vanke aims to double market share

(Agencies)
Updated: 2009-04-15 16:25

China Vanke, the country's biggest listed real estate developer, is aiming to double its market share over the next decade, as many predict consolidation for China's crowded real estate market.

Related readings:  Housing market takes a breather  Realty firms to offer discounts in Beijing  Vanke reports 17% drop in profit

The company is aiming to boost its market share to 5 percent in the next five to 10 years, compared with 2.34 percent in 2008, said Chairman Wang Shi, speaking at an event in Taipei.

He said the firm expected to be developing about 200,000 residential units by the middle of this year.