5 among the Top 10 are female, led by Chen Lihua.
Government stimuli to housing demand drive real estate fortunes to record highs, despite slowdown in economy.
Wang Jianlin & family, 61, crowned ‘Richest Property Tycoon’ with real estate fortune of US$18.8bn, up 9% after a successful listing in Hong Kong.
The youngest is Yang Huiyan, 34, while Yan Zhi of Zhuoer and Wang Yonghong of Zhonghong, both 43, and Jing Baifu of Angzhan Investment, 45.
51% made their money in residential real estate, 35% in commercial real estate.
Going Global: Wanda leads the way with developments in US, Australia, UK and Spain. The largest individual development is Country Garden in Malaysia.
New faces. 10 new faces, two more than last year.
The average wealth of the top 10 is valued at 41.55bn Yuan, increased 23% compared to last year.
Hurun Research Institute released the tenth anniversary edition of the Hurun Property Rich List 2015 on 21 October 2015. According to the report, Wang Jianlin of Wanda, possess the wealth of US$18.8bn in real estate, as part of his personal wealth of US$34.4bn in total. The calculations are as of 14 August 2015.
Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher said, “China’s real estate tycoons have had a good year generally, as the big players have continued to grow fastest, making it harder for small and medium-sized players to keep up.”
According to Rupert Hoogewerf, Government of China took effort to boost market demand on real estate by cutting interest rates four times in the past year and reduced cash reserve ratio for banks. The percentage of down payment is reduced below 30%, and lifted the restrictions on the number of houses individuals can buy in many cities except Beijing and Shanghai.
In addition, the average wealth of the real estate tycoons increased 24% at 18.5bn Yuan. There are 42 persons with wealth valued above 10bn Yuan whose 12 of them are new comers. Meantime, the average age of the top 50 real estate tycoons in the list is 52 years old.
Article above published on Monde Journal in collaboration with Hurun Report Inc.