Fitch indicates in its report that the Outlook revision reflects the Company's consistent growth in its sales and scale, as well as its geographical diversification. Fitch believes that the Company can maintain a low leverage ratio as the company continues to boost its land bank size to sustain rising contracted sales, and the company has saleable resources for around four years of development. Fitch has maintained the Group's long-term foreign-currency issuer default rating (IDR) and senior unsecured rating at "B".
In 1H2020, the Group registered record-high contracted sales of
The Group provides a wide variety of products, ranging from residential buildings, office buildings, to commercial buildings and hotels which are under four product lines, i.e. "Yong", "Jun", "Yue", and "Hua" to cater home purchasers' individual needs. Also, benefiting from the Group's department of diversified business, the Company has the advantages in land acquisition channels and costs, which, coupled with a premium product mix and relatively stable costs, the Group has transitioned into a fast-churn model developer while maintaining a stable and healthy gross profit margin. Meanwhile, the Group has launched an online house purchase platform "Redco UG" to create a new model of sales and introduce the "New Oriental Green Architecture" concept to diversify its product differentiation and advance the quality growth of the Group.
About REDCO PROPERTITIES GROUP LIMITED
The Group is an integrated property developer focusing on property development with efforts in diverse business portfolio including health care, commercial properties, technology, property management, culture tourism and education. The Group has been upholding the brand philosophy of "quality architecture lays the foundation of quality life" and has successfully entered the
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