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China’s construction & real estate industry sees a drop of 26.67% in deal activity in March 2021

29 Apr 2021 (Last Updated April 29th, 2021 19:04)

China’s construction & real estate industry saw a drop of 26.67% in overall deal activity during March 2021, when compared with the last 12-month average, led by Guangzhou Jinmao Properties’ $474.69m acquisition of Guangzhou Wanzhi Real Estate, according to GlobalData’s deals database.

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A total of 22 deals worth $1.08bn were announced in March 2021, compared with the 12-month average of 30 deals.

M&A was the leading category in the month in terms of volume with 18 deals, which accounted for 81.8% of all deals.

In second place was venture financing with four deals accounting for 18.2% of overall deal activity in the China’s technology industry during the month.

In terms of value of deals, M&A was the leading deal category in China’s construction & real estate industry with total deals worth $1.05bn, followed by venture financing deals totalled $27.63m.

China construction & real estate industry deals in March 2021: Top deals

The top five construction & real estate industry deals accounted for 90.8% of the overall value during March 2021.

The combined value of the top five construction & real estate deals stood at $975.98m, against the overall value of $1.08bn recorded for the month.

The top five construction & real estate industry deals of March 2021 tracked by GlobalData were:

1) Guangzhou Jinmao Properties’ $474.69m acquisition of Guangzhou Wanzhi Real Estate

2) The $196.82m acquisition of Yida Property Service by Longfor Jiayue Property ServiceLimited

3) Longhu Jiayue Property Services’ $196.82m acquisition of Yida Service Group

4) The $59.43m acquisition deal with Foshan Shiwan Eagle Ceramics by Guangdong Tianan New Materials

5) Yangzhou Huacheng Real Estate Development’s acquisition of Yangzhou Feifan Real Estate Development for $48.23m.