China 2015: BRAND PROFILE | 62. Longfor
Longfor experienced strong property sales and rental results during 2013. As the real estate market slowed and corrected, during the first half of 2014, Longfor took advantage of lower land costs to purchase property for future building in existing markets and new markets, such as Nanjing and Foshan.
The brand also marketed its commercial properties aggressively, linking its Paradise Walk shopping malls with ecommerce sites. Longfor develops shopping malls under three brands and areas of focus: Paradise Walk, urban; Starry Street, community; and MOCO, lifestyle.
Net income increased 5 percent to $650 million on a 5 percent hike in revenue to $2.6 billion, in the first half of 2014. For the full year 2013, net income rose 31 percent to $1.3 billion as revenue surged 53 percent to $6.8 billion. Longfor Properties Company, Ltd. was listed on the Hong Kong Stock Exchange in 2009.