R&F Properties
| Company type | Public company |
|---|---|
| Industry | Real estate |
| Founded | 1994 |
| Founder | Li Silian |
| Headquarters | Guangzhou , China |
Area served | China, Malaysia, United Kingdom |
| Products | Design, development, construction supervision, sales, property management, real estate brokerage |
R&F Properties () is a Chinese real estate developer based in Zhujiang New Town, Guangzhou, Guangdong. Established in 1994, it stands as one of Guangzhou’s leading property firms, providing a comprehensive range of services such as design, development, construction supervision, sales, property management, and real estate brokerage.
The company’s H shares were first offered on the Hong Kong Stock Exchange on 14 July 2005, marking it as the inaugural mainland real estate firm to be included in the Hang Seng China Enterprises Index.
History
R&F Properties was founded by Li Silian in 1994 and subsequently listed on the Hong Kong Stock Exchange in July 2005. It remained part of the Hang Seng China Enterprises Index until its exclusion in 2011.
In December 2009, together with Country Garden and Agile Properties, R&F secured land for the Asian Games City project in Panyu, Guangzhou, at a cost of RMB 25.5 billion. In April 2010, the company acquired a parcel of land in Xianshuigu Town, Tianjin for RMB 7.05 billion, setting a new benchmark for single-project land prices in Tianjin.
Facing financial difficulties with Shenzhen Phoenix Football Club in June 2011, R&F took over ownership and rebranded the team as Guangzhou R&F Football Club.
On December 2, 2013, R&F purchased six plots totaling roughly 116 acres in Johor Bahru from the royal family of Sultan Ibrahim Johor for about 4.5 billion Malaysian ringgit (HK$10.81 billion), planning a developable area of 3.5 million square meters. The Princess Cove Tanjung Puteri development was officially launched on June 21, 2014.
On July 19, 2017, R&F completed the acquisition of full ownership of 76 hotel projects and a 70% stake in Yantai Wanda Vista Hotel from Wanda Group for RMB 19.906 billion. This deal encompassed 77 hotels with an aggregate construction area near 3.286 million square meters and over 23,000 rooms. Following this purchase, R&F became one of the world’s largest proprietors of five-star hotels, generating RMB 5.3 billion in revenue and more than RMB 800 million in profit during 2016.
To raise funds for overseas debt settlement, on December 19, 2019, R&F issued 273 million new shares at HK$13.68 each—equivalent to approximately 26.89% of its issued H shares—raising close to HK$3.735 billion.
In April 2020, R&F divested its property management business to its principal shareholder for RMB 330 million.
In July 2023, Guangdong Xiangzheng Trading Co., Ltd. along with Guangzhou Guangfeng Concrete Co., Ltd., initiated bankruptcy liquidation proceedings against R&F over a commercial ticket dispute involving RMB 20 million. R&F responded by affirming that its assets surpass liabilities and operations continue normally. The Guangzhou Intermediate People’s Court dismissed the bankruptcy petition on July 14; efforts toward reconciliation remain ongoing.
Developments
- Tianjin R&F Guangdong Tower
- Tianjin R&F Center
- R&F Princess Cove
- Vauxhall Square, London (UK)