In the first quarter, less than 30% of the top 100 real estate companies acquired land, Yuexiu Group and Poly Development had the highest land acquisition amount, and Shanghai is still a key area for development.

In the first quarter of 2026, the land market in core cities saw a decrease in quantity but an increase in quality. The total land acquisition of the top 100 real estate companies decreased by 49.4%, but high-quality plots such as the Ma Chang plot in Guangzhou and the residential land in the Chengdong New Town in Hangzhou were still in high demand. Real estate companies are experiencing strategic differentiation, with companies like Yuexiu Group and Poly Development leading in land acquisition among central state-owned enterprises. The Yangtze River Delta region is thriving, and the Guangdong-Hong Kong-Macau Greater Bay Area has a competitive advantage in scale.