Greentown China Holdings

What Greentown China Holdings does

Greentown China Holdings Limited (HKEX: 3900.HK) is a publicly listed Chinese residential property developer founded in 1995 and headquartered in Hangzhou, Zhejiang Province. The company develops, sells, and manages premium residential real estate across multiple Chinese city clusters — Yangtze River Delta, Bohai Rim, Pearl River Delta, Middle Reaches of the Yangtze River, Southwest, and selected overseas markets — operating a 23.71 million sqm land bank as of 31 December 2025. Greentown also provides third-party construction management services under an asset-light model and runs a Green Financing Framework aligned with ICMA's 2021 Green Bond Principles, with green certification provided by Moody's ESG (formerly Vigeo Eiris).

The company generates the bulk of its revenue through one-off contracted sales of residential properties to individual buyers, supplemented by recurring construction management fees and proceeds from green bond issuances. Pricing is determined on a project-by-project basis, with Greentown's premium brand positioning in core urban areas supporting pricing power; specific unit pricing is not publicly aggregated. Go-to-market relies on a proprietary direct field sales network with on-site sales centers across its national land bank, complemented by institutional investor engagement through annual results presentations, ESG reports, and active participation in sell-side investor conferences. The customer base is composed of middle-to-upper-income individuals and families seeking premium urban housing with integrated lifestyle services.

Greentown is owned in significant part by China Communications Construction Group (CCCG), a major state-owned enterprise that became the single largest shareholder in 2015, providing balance-sheet support during sector stress. The company ranked Top 2 in the PRC by contracted sales in 2025 with RMB 251.9 billion (down from RMB 276.8 billion in 2024), and reported a profit warning in March 2025 indicating profit attributable to shareholders would decline by approximately 95% to roughly RMB 80 million versus RMB 1.596 billion in 2024. Leadership comprises CEO Yadong Zhang, CFO/Company Secretary Simon Fung, and Assistant President Li Xiao. The company employs between 5,001 and 10,000 people and is positioned as an "Integrated Service Provider for an Ideal Life in China."

Name

Greentown China Holdings

Legal name

Greentown China Holdings Limited

Website

https://greentownchina.com

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Greentown China Holdings is a publicly listed (HKEX: 3900.HK) Hangzhou-based residential property developer, ranked Top 2 in the PRC for 2025 contracted sales (RMB 251.9 billion). It develops premium housing across major Chinese city clusters using a 23.71 million sqm land bank and serves middle-to-upper-income individual buyers.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

Land Subdivision (23721), New Housing For-Sale Builders (236117)

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

Sustainable/Green Building & LEED Consulting (BPAHAKAG)

Keywords

• Residential property development
• Construction management services
• Premium housing development
• Real estate investment holdings
• Green bond financing

Headquarters

HQ city

Hangzhou

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Property Sales: Greentown generates the majority of its revenue from contracted sales of residential properties across China. The company maintains a land bank of 23.71 million sqm (as of 31 December 2025) distributed across the Yangtze River Delta, Southwest, Bohai Rim, Pearl River Delta, Middle Reaches of the Yangtze River, and overseas markets. Total contracted sales for 2025 were approximately RMB 251.9bn, ranking Top 2 in the PRC.
2. Construction Management: Greentown offers construction management and development services to third-party property owners and partners, leveraging its brand and operational expertise in an asset-light model.
3. Green Bond Issuance: The company raises funds through the issuance of green bonds under its Green Financing Framework (established August 2021), aligned with the 2021 Green Bond Principles (GBP) issued by ICMA. Proceeds support eligible green projects including green buildings, sustainable water resources management, renewable energy, clean transportation, and climate change countermeasures.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Greentown China Holdings Limited is a leading Chinese residential property developer that develops, sells, and delivers premium housing projects across the Yangtze River Delta, Bohai Rim, Pearl River Delta, Southwest, Middle Reaches of the Yangtze River, and overseas markets, supported by a 23.71 million sqm land bank. The company also provides asset-light construction management and development services to third-party property owners and partners, leveraging its brand and operational expertise.

Product overview

Greentown China Holdings is a real estate developer operating in China. The company functions as an integrated service provider for ideal living, with a land bank of 23.71 million sqm as of December 2025. Their geographic footprint spans the Yangtze River Delta Region, Southwest Region, Bohai Rim Region, Pearl River Delta Region, Middle Reaches of the Yangtze River Region, Other Areas in China, and Overseas markets. The company engages in residential property development, construction management services, and maintains ESG and green finance initiatives. The source materials do not enumerate distinct named software products, modules, or technology platforms — Greentown China's offerings are real estate properties and related services rather than software products.

Differentiator

Problem solved

Functional benefit

Products and services

• Residential Property Development
• Construction Management and Development Services

Quantifiable outcome

• Top 2 ranking in PRC by contracted sales (2025)
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Moody's ESG (formerly Vigeo Eiris)coreImplementation/ SI/ Consulting Partner · 1 August 2021Vigeo Eiris (now Moody's ESG), an independent third-party rating agency, provided green certification for Greentown's Green Financing Framework and issued a second party opinion in August 2021. The framework was aligned with the 2021 Green Bond Principles (GBP) issued by the International Capital Markets Association (ICMA), enabling Greentown to issue green bonds for eligible sustainability projects.
• International Capital Markets Association (ICMA)coreStrategic or Co-development Partner · 1 August 2021Greentown's Green Financing Framework was aligned with the 2021 Green Bond Principles (GBP) issued by ICMA, establishing the company's green finance framework against internationally recognized standards for sustainable capital markets activity.
• Aeon Life InsuranceminorStrategic or Co-development Partner · 17 December 2018Greentown China invested in Aeon Life Insurance in December 2018, accelerating its financial development diversification beyond core property development into insurance and financial services.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Agile Group Holdings: Agile Group is a Top 20 PRC residential developer with a multi-regional footprint. It is directly comparable to Greentown in scale of contracted sales and Chinese city cluster diversification.
• Country Garden Holdings: Country Garden is one of the largest Chinese residential property developers by contracted sales, directly comparable to Greentown in scale, geographic footprint, and product/market positioning. Both target urban and peri-urban residential demand across Chinese city clusters.
• China Overseas Land & Investment (COLI): COLI is a major state-owned Chinese property developer and a sister company under CCCG (Greentown's largest shareholder). It is directly comparable in product, customer segment, and PRC city-cluster footprint, and serves as a key benchmark for SOE-backed developer performance.
• China Vanke: China Vanke is one of the largest PRC residential developers, comparable in scale, geographic diversification, and brand positioning. Both developers compete directly for premium urban buyers and participate in the same Top 10 PRC sales rankings.
• Longfor Group Holdings: Longfor is a Top 10 PRC residential developer with diversified property, rental housing, and property management businesses. It is directly comparable to Greentown in its residential development footprint and premium urban positioning.
• Poly Developments and Holdings: Poly Developments is one of the largest state-owned PRC residential developers under China Poly Group. It directly competes with Greentown in the same city clusters and represents another SOE-backed benchmark for residential property scale.
• China Resources Land: China Resources Land is a major SOE-backed PRC developer with a strong footprint in tier-1 and tier-2 cities. It is directly comparable to Greentown in commercial-residential mixed developments and shares a focus on premium urban buyers.
• Sunac China Holdings: Sunac is a major PRC residential and commercial property developer with comparable geographic diversification. Both Greentown and Sunac operate premium residential portfolios across multiple Chinese city clusters, though Sunac has undergone significant restructuring.
• Logan Group Company: Logan Group is a major Guangdong-based PRC residential developer focused on the Pearl River Delta and other tier-1/2 cities. It directly competes with Greentown in the Pearl River Delta region and shares a premium residential positioning.

Others

• China Resources Mixc Lifestyle: China Resources Mixc Lifestyle is a property management and lifestyle services subsidiary of China Resources Land. It is comparable to Greentown's integrated lifestyle services strategy and its 'Integrated Service Provider for an Ideal Life' positioning, representing a model for diversifying revenue beyond pure property development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Greentown China Holdings