Introduction
Since its founding in 1992, the Evergrande Group (or “Evergrande”) has become one of the leading real estate developers in China and is now the country’s largest publicly traded real estate enterprise in terms of both contraction margin and total assets. From its early years supplying residential housing in the mid-sized cities of Guangdong Province to its present day accomplishments building world-class integrated developments, Evergrande has a rich history of success founded in customer focus and innovation.
Founded in 1992 in the small city of Shunde, Guangdong Province, Evergrande Investment and Development Co. Ltd (Evergrande Investment) started out as a small real estate development firm. Recognizing the potential of the burgeoning Chinese real estate market and with the financial support of local government agencies, Evergrande quickly established itself as the area’s dominant real estate developer. By 2004, the company had expanded operation to nearly 40 cities across the country.
As its customer base expanded, so did its range of products. In 2005, the company launched its first luxury integrated development, Evergrande Plaza in Luohu, Shenzhen. Featuring world-class architecture and amenities, Evergrande Plaza marked the beginning of a new era for the company. It was the first of many projects that combined high-end residential living with commercial, retail, and entertainment venues, enabling the company to effectively act as a “one-stop shop” for customers.
Evergrandes Expansion of Overseas Presence
The success of Evergrande’s integrated developments propelled the company on an ever-growing trajectory of success. In 2012, it officially listed itself on the Hong Kong Stock Exchange, raising 13.8 billion HKD (1.77 billion USD). Today, it is the largest publicly-traded real estate enterprise in China, with total assets of over 320.8 billion HKD (41.4 billion USD).
In recent years, the company has increasingly turned its attention to international markets. It has established a presence in the United Arab Emirates, positioning itself as a preferred partner for large-scale residential and commercial developments in Dubai’s most sought after neighborhoods . It has also invested heavily in the United States, with major investments in luxury residential, office, and lifestyle destination projects in Miami, Los Angeles, San Francisco, and New York. In total, the company has completed 15 projects in the US, totaling 27 million square feet.
Conclusion
Since its humble beginnings in the mid-1990s, Evergrande has grown to become one of Chinas most successful real estate developers. With an ever- expanding presence in both China and international markets, it has shaken up the real estate industry with innovative developments and proven strategies. As it continues to pursue growth, the company is sure to have an even larger impact on the world in the years to come.
