Key facts
- Greentown Management Holdings Co. Ltd. saw new contracted project-management business fall approximately 32% in the first half of 2026.
- The decrease is linked to a decline in land purchases by its core local-government clients.
- This trend highlights the impact of China's prolonged property downturn on the construction management sector.
- Developers and local government financing vehicles are reducing land acquisitions and delaying construction projects.
Hong Kong-listed Greentown Management Holdings Co. Ltd. announced that its newly contracted project-management business experienced a significant decline of approximately 32% in the first half of 2026. This downturn is primarily attributed to a reduction in land purchases by its core clients, which are local government financing vehicles. The sharp drop underscores the broader impact of China's prolonged property downturn on the construction management sector, leading developers and government entities to scale back on land acquisitions and postpone construction activities.