China Overseas Grand Oceans Group Ltd.
COLI was incorporated in Hong Kong in 1979. It is the flagship company of China Overseas Holdings Limited, a wholly-owned Hong Kong subsidiary of China State Construction Engineering Corporation, the largest construction conglomerate in China. In August 1992, COLI was listed on The Stock Exchange of Hong Kong Limited and pioneered the listing of Hong Kong businesses and assets by Chinese enterprises. COLI has the highest property development qualification in China. In December 2007, COLI was selected as a constituent of the Hang Seng Index. Its brand “China Overseas Property” has become the national lading brand in China and was awarded as “China Well-known Trademark” status by the State Administration for Industry and Commerce.
The acquisition of the operations for the property portfolio from COLI in December 2016 enlarged the operating scale of the Group and further expanded its footprint to cities with high growth potential.
With the extended efforts of the management, the consolidation and integration work was smooth and progressed satisfactorily in the year. In addition to the above acquisition, the Group still kept its pace in land acquisition to secure its foundation for persisted growth. During the year, the Group entered into a new city, Xining, a city in Qinghai province with high growth potential. Together with other new land pieces, the Group successfully acquired a total of ten parcels of land in Hefei, Yancheng, Xining, Yinchuan, Changzhou, Yangzhou, Xuzhou and Ganzhou with total development area of 2,508,047 sq.m. (attributable to the Group: 2,508,047 sq.m.). As at 31 December 2017, total land bank of the Group and its associates and joint ventures in China reached 19,025,800 sq.m., of which, 408,400 sq.m. was held by associates and joint ventures. The land bank attributable to the Group (including the interests in associates and joint ventures) was 17,910,800 sq.m.. The Group’s land bank was distributed over 18 cities as at 31 December 2017.