Real estate group Gemdale to diversify portfolio

Gemdale Group, one of the country's largest real estate operators and developers, will enter education, sports, healthcare and pension sectors while maintaining its core business of residential property, said the company's top management on Saturday.

"Based on our layout in the commercial property industry, we plan to advance into other industries to integrate industrial resources and strengthen the group's overall competitiveness," said Ling Ke, chairman of Gemdale Group.

The group will also actively explore standardization and industrialization throughout the process of product planning and designing, construction technology developing and property developing, said Ling.

Since Gemdale Group entered the capital market in 2001, its sales revenue has increased by 264 times, reaching 140.8 billion yuan ($21.94 billion) in 2018, according to Ling.

In terms of sales revenue, the group expects revenue increase in first-tier and second-tier cities such as Shanghai, Wuhan, Guangzhou and Xi'an, said Huang Juncan, CEO of Gemdale.

The group will push forward comprehensive strategies to grasp opportunities from China's economic growth in the mid to long term and meet the challenges from growing industrial concentration, said Huang.

It will include expanding of investment layout, enhancing of management and operation efficiency, exploring of service concept in product system, improving of social responsibility and diversifying of industrial development, said Huang.

Fan Hang contributed to this story