The absence of a clear recovery in project
This has me a bit worried. CR Land $CHINA RES LAND(01109)$ is one of the strongest developers in China and has a strong reputation for project timely project delivery.
The absence of a clear recovery in its business means Chinese efforts are not yet having the desired impact & more needs to be done to shore up confidence among homebuyers. $China Resources Land Ltd.(CRBJF)$ $Global X MSCI China Real Estate ETF(CHIR)$ - CHINA RES LAND (http://01109.HK) Dec 2023 Contracted Sales Crash 57.6% YoY, But Full-Yr Sales Rise 1.9% |
https://twitter.com/BrianTycangco/status/1745261882473394328
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