Deutsche Bank hosted an investor luncheon with Sharman Lai Man Kai, Chairman (Mainland China) of Centaline. Lai is concerned about the profitability of the "land king" projects but believes leading developers, especially SOEs, are doing better on landbanking throughout different cycles.
Moreover, leading developers are also taking larger market shares as well as conducting more M&As in recent years.
Commenting on the property market, despite diverging performance expectations across different cities in China, Lai believes the recovery in the sector will continue in 2H given that the government is unlikely to tighten its monetary policy in the short term.
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