Goldman Sachs Still Prudent about Mainland Property Market

BEIJING, Jun 27, 2008 (SinoCast via COMTEX) -- GS | Quote | Chart | News | PowerRating -- Goldman Sachs Group Inc., a leading global investment banking, securities and investment management firm, lately said in a research report that it remained its prudent attitude towards the real estate market in Mainland China.

Pursuant to the report, housing sales around the Yangtze River Delta region will further step down in the future.

And average housing sales of the listed real estate developers under the research for the first half of 2008 accounted for only 30% of the sales goal for the full year. Therefore, they are forecasted to be confronted with harder challenges in the second half.

Although real estate developers like China Overseas Land & Investment Limited (SEHK: 0688) and Guangzhou R&F Properties Co., Ltd. (SEHK: 2777) had fulfilled sales goals for the first half, their sales will speed down in the coming two months. And it will be very difficult for R&F Properties and China Resources Land (Beijing) Co., Ltd. (SEHK: 1109) to reach sales goals for the third quarter of 2008, according to the report.

From www.cnstock.com, Page 1, Thursday, June 26, 2008 info@SinoCast.Com

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