GTEC: Go West!
GTEC Stock Guru Profile Golden Horse
I think being in the housing market in China makes incredibly good business sense and there is no lull to this housing boom … completely unlike what is going on in the United States.
Look at these RESIDENTIAL projects Golden Horse has on the table. These total more than $135 million in revenues and $25 million in estimated profits and they are all in the boom center of China: Western China!
Nan Yuan Estates, 1100 units, $20.5 million contract, $4.1 million projected profits.
Yuan Estates, 600 units, $8.3 million contract, $1.55 million projected profits.
Gold Horse Gardens, 5,000 units, $109.7 million contract, $19.4 million projected profits.
These three projects of residential housing will be completed from 2007 to 2010, and represent over 6,500 residential units AND REMEMBER THIS DOES NOT INCLUDE THEIR COMMERCIAL PROJECTS.
What I like about their business is that they are locating where the growth is and where land prices are lower, Western China.
Golden Horse has the strong endorsement of the government behind them in building residential housing which is crucial for success in China. They are conforming to the direction the Chinese Government is taking their country.
The Chinese government has made it clear that it wants a “steady property market.” Their stated and official position is that the residential market is related to the well-being of citizens and it should grow. What China’s government wants, it gets.
China has now taken this mandate to Western China, where Golden Horse is located. Western China, which was still a rural backwater not too long ago but now has emerged as THE new place to be in terms of profit and opportunity. It is the new place for business to find lower land prices and wages and they are locating there. In eastern China businesses are finding Beijing and Guangzhou are well developed with rising labor and land costs as strong competition.
The western regions, in contrast to Eastern China, now represent places where China’s traditional competitive advantages remain undiminished.
The low-cost environment, pro-business government policies and a vast, emerging consumer market are among western China’s top draws.
Labor-intensive industries can expect to pay wages that are 50 to 70 per cent lower than those in Shanghai or Beijing.
Golden Horse is located where the growth of China is and they have the government encouraging them in their business.
I will write more about this tonight but I wanted you to understand that housing in Western China is at a premium and Golden Horse is fully participating in what has been described as an insatiable demand in Western China!
Western China is THE NEW Economic Engine of China and Golden Horse is in the center of the great Western China BUILDING BOOM.
Source: Shanghai Times and Golden Horse
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