Developers make a beeline for public floats in Hong Kong

A bunch of Chinese real estate developers led by Glorious Property are making a beeline to list on the Hong Kong bourse hoping to cash in on the capital and property market rebounds.

First off the mark has been Glorious Property which launched an initial public offering on Sept 14 and is set to be followed by Beijing-based Longfor Group, Guangzhou-based Evergrande Real Estate, Shenzhen-based Excellence Group, Fantasia Real Estate and Xiamen-based Powerlong, according to Caijing online.

"The capital market is rebounding at present, and the global and domestic economies are showing signs of recovery," said Qin Lihong, general manager for branding, Longfor Group.