Country Garden

What Country Garden does

Country Garden Holdings Company Limited (碧桂园控股有限公司, HKEx: 02007.HK) is one of China's largest residential property developers, founded in 1992 in Shunde, Foshan by Yang Guoqiang. The company develops, sells, and manages residential housing across more than 1,400 cities and towns in all 31 mainland Chinese provinces, with a portfolio exceeding 3,000 projects serving over 500万 homeowners. Its business is organized around three core pillars: (1) Real Estate Development — standardized, quality residential housing delivered through on-site sales offices and the Phoenix Cloud digital platform; (2) Smart Construction — provided via subsidiary Tengyue Construction Technology Group, which holds 185 professional construction qualifications and operates the Bright Dream Robotics (博智林) platform with 5,000+ construction robots deployed; and (3) Entrusted Management and Construction — delivered through Phoenix Management (凤凰智拓建管公司) to government entities, urban investment companies, and commercial developers for urban renewal and government-commissioned projects. Revenue is generated primarily through one-time property sales (recognized on handover) with recurring income from property management (Country Garden Services, HK.6098) and growing streams from long-term rental apartments (Bijia Apartment, 20+ cities, 30,000+ rooms) and commercial asset management.

Following the 2020 'three red lines' policy, Country Garden underwent severe financial stress, defaulting on offshore bonds in 2023 and launching a 'protect deliveries' campaign that delivered nearly 1.15 million units over 2023-2025, ranking first in the industry. In December 2025 the company completed its offshore debt restructuring, reducing total debt by approximately RMB 90 billion and lowering new financing costs to 1%-2.5%, supported by a US$1.14 billion loan-to-equity conversion from controlling shareholder Concrete Win. The company returned to net profitability in 2025 (RMB 1.6 billion) and achieved MSCI China Small Cap and FTSE Russell index inclusion in 2026. GTM motion is sales-led with deep direct field-sales coverage at 3,000+ project sites, complemented by online channels and a dedicated government/enterprise sales function for entrusted construction.

The current company is best understood as a turnaround story: a former sector leader that has stabilized after a multi-year contraction, with FY2025 revenue of approximately RMB 154.9 billion (vs. RMB 523 billion peak in 2021), a restructured balance sheet, and a strategic pivot toward robotics-enabled construction, rental housing, and government/commercial entrusted construction services as core property sales remain compressed.

Name

Country Garden

Legal name

Country Garden Holdings Company Limited (碧桂园控股有限公司)

Website

https://countrygarden.com.cn

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Country Garden (碧桂园, HKEx: 02007.HK) is a major Chinese residential property developer that has built, sold, and manages housing across 1,400+ cities and 3,000+ projects serving 500万+ homeowners, with growing operations in smart construction robotics, government-commissioned construction, and rental housing.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

Land Subdivision (2372)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industry

Manufactured Housing / Mobile Home Park Management (BPAJAFAG)

Keywords

• Residential property development
• Smart construction services
• Property management services
• Entrusted construction management
• Construction robotics

Headquarters

HQ city

Foshan

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Property Sales: Primary revenue stream from residential property development and sales across China's extensive network of over 3000 projects. Revenue recognized upon property handover to buyers.
2. Property Management Services: Recurring revenue from property management services provided to over 500万 homeowners across residential communities. Includes community services, maintenance, and facility management.
3. Smart Construction Services: Technology-enabled construction services utilizing proprietary robotics and smart construction technology for third-party projects
4. Entrusted Management and Construction: Government entrusted construction projects and urban renewal development contracts, providing project management and construction services to government entities

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Country Garden fundamentally develops, constructs, and sells residential properties across China through a centralized, standardized mass-market model, serving over 500万 homeowners across 1,400+ cities and towns. Beyond residential development, the company delivers property management services to homeowner communities and offers smart construction services—including proprietary construction robotics and building management systems—through its Tengyue Construction Technology and Bozhilin Robotics subsidiaries.

Product overview

Country Garden operates as a diversified technology conglomerate in China's real estate sector, organized around three core business pillars: Real Estate Development (the primary residential property development across 1,400+ cities), Smart Construction (via Tengyue Construction Tech with robotics and intelligent building systems), and Entrusted Management & Construction (via Phoenix Management for government and commercial projects). The company has expanded into commercial property management (碧桂园商管) with the 凤凰荟 product line, long-term rental apartments (碧家公寓), and construction robotics (博智林机器人). The 家圆服务体系 provides integrated homeowner services across the property lifecycle. As of end 2025, the company had over 3,000 signed or acquired projects across 31 provinces, 297 cities, and 1,365 county/town-level administrative divisions.

Differentiator

Problem solved

Functional benefit

Brands

• Phoenix Home (凤悦): Hotel and resort brand under Country Garden
• Phoenix Management (凤凰智拓)
• Tengyue Construction (腾越建科)
• Bijia Apartment (碧家公寓)
• Fenghuang Hui (凤凰荟)
• Home Circle Service System (家圆服务体系)

Products and services

• Real Estate Development (地产开发) Country Garden's core residential property development business, providing diversified housing products across China's urban areas with centralized and standardized operations. Delivers well-fitted housing, landscaped gardens, complete amenities, and attentive services across 3,000+ projects in 1,400+ cities, serving over 500万 homeowners.
• Smart Construction (智慧建造) Tengyue Construction Tech Group provides smart construction services including general contracting, municipal works, electromechanical engineering, construction robotics R&D and application, and intelligent construction. The company is the only civil construction Grade-A enterprise in Foshan, holding 185 professional qualifications across construction, municipal works, electromechanical engineering, and decoration specialties. Operates four segments: construction, rental, home decoration, and robotics.
• Entrusted Management and Construction (代管代建) Guangdong Phoenix Management (凤凰智拓建管) provides specialized construction management services adhering to the service philosophy of "professionalism creates value, management enhances excellence," with core competencies in efficiency, product capability, cost capability, and service capability. Services cover government entrusted construction, commercial entrusted construction, capital entrusted construction, and management consulting for residential properties, urban facilities, and industrial parks. Client base spans government agencies, urban investment companies, and property developers.
• Home Circle Service System (家圆服务体系) One-stop lifecycle service system providing comprehensive homeowner services from property purchase through residence, covering 5-dimensional life planning and 3 service platforms. Designed to serve Country Garden's 500万+ homeowners across all residential communities with continuous engagement throughout the homeownership lifecycle.
• Bijia Apartment (碧家公寓) Long-term rental apartment brand under Country Garden Commercial Management, offering quality housing for urban youth across 20+ cities with over 30,000 rooms available. Targets young urban residents seeking professionally managed rental housing.
• Country Garden Commercial Management (碧桂园商管) Commercial asset management services covering shopping centers, urban renewal projects, characteristic streets, long-term rental apartments, commercial parks, and office buildings. Includes the Fenghuang Hui (凤凰荟) product line for shopping centers, providing integrated commercial property management across multiple asset classes.
• Bozhilin Construction Robotics (博智林机器人) Construction robotics company developing and manufacturing building robots to enhance construction intelligence levels. Operates as a wholly-owned subsidiary of Country Garden with over 5,000 robot deliveries and market leadership in the construction robotics segment. Robots cover multiple construction scenarios including foundation work, structural construction, and finishing applications.

Quantifiable outcome

• Serves over 500万 homeowners across residential communities
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• China Vanke: One of China's largest residential property developers, listed on Shenzhen and Hong Kong exchanges. Directly comparable to Country Garden in scale, geographic footprint, and exposure to China's property crisis, also facing significant operational and balance sheet challenges.
• Poly Developments and Holdings: State-owned residential property developer under China Poly Group and one of China's largest by contracted sales. Comparable in residential development focus and national footprint, though backed by SOE capital and generally better capitalized than private-sector peers.
• China Overseas Land & Investment (COLI): A leading Chinese state-owned residential property developer listed in Hong Kong. Directly comparable in residential focus and national operations, generally more financially stable through SOE parent support from China State Construction.
• Longfor Group Holdings: Major Chinese residential and commercial property developer listed in Hong Kong. Comparable in scale, national geographic reach, and diversified property operations including property management and rental housing.
• China Resources Land: State-owned Chinese property developer with significant residential and commercial operations across China. Comparable in national footprint and residential development scale, supported by China Resources Group's strong balance sheet.
• Sunac China Holdings: Major Chinese residential property developer that also underwent significant debt restructuring in 2022-2023. Comparable in scale and exposure to China's residential property downturn, having similarly completed offshore debt restructuring.
• Greenland Holdings: State-controlled Chinese property developer with significant residential, commercial, and infrastructure operations. Comparable in scale and national geographic reach, also facing headwinds from China's property sector downturn.
• Logan Group: Chinese residential property developer focused on Greater Bay Area and other tier-1/2 cities. Comparable in residential development focus and exposure to Chinese property market dynamics, though smaller in scale.
• Shimao Group: Chinese property developer with residential and commercial operations that has also faced significant debt restructuring. Comparable in scale and Chinese property sector exposure, with similar challenges in offshore debt resolution.

Broad incumbents

• Country Garden Services: Property management subsidiary of Country Garden Holdings, separately listed on HKEx (HK.6098). Comparable as a Chinese residential property management business providing recurring services revenue, though smaller and more focused than the parent group's development operations.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries5 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments22 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Country Garden