Description
Greentown China Holdings, or Greentown, is a China property developer headquartered in Hangzhou. Founded by Song Weiping, the company listed on the Hong Kong Stock Exchange in 2006. Predominantly a property developer known for high-end residential projects with landbank geographically focused in Zhejiang and the Bohai Rim, Greentown is also noted for being one of the first developers to embark on the asset-light construction management model to generate development fee income from third-party construction and project management services. In June 2012, Wharf entered as a strategic shareholder of the company, with a 24.9% stake as of 2019. Subsequently in December 2014, China Communications Construction Group became Greentown's largest strategic shareholder, with a 28.8% stake as of 2019.
