Coastal Greenland: A 27-year Journey

Published: China Business | December 30, 2017

In the history of China's real estate market, there is one name that has never been forgotten. For twenty-seven years, from urban development and infrastructure projects to the realization of green housing for the masses, Coastal has been at the forefront of the industry. Despite many ups and downs, Coastal has nevertheless uphold its commitment to the mission it has set out to accomplish from the very beginning---to combine housing and property with eco-technology and to provide outstanding services for all of its customers.

A daring dream

Twenty seven years ago, a group of young entrepreneurs with a similar vision teamed up to build a property development business in mainland China. On November 16, 1990, the office for Coastal's first property development project was officially established in Xiamen. It was a time when even well established conglomerates and property developers, both in Hong Kong and abroad, dare not venture into China.

From its inception, Coastal would not be content being just any property developer; it had defined itself as a front-runner and an industry changer. Upon completion of the first few development projects (which broke records in sales and construction specifications), the young founders looked outside of Xiamen to establish their presence in multiple cities across southern China. Meanwhile, they began to contemplate the possibility of going public.

Despite all odds, Coastal went public in October 1997 and was the last company to do so before the onset of the Asian Financial Crisis, becoming one of the first listed Hong Kong developers to operate in China.

At the celebration of the 10th anniversary of Coastal, Coastalites gathered together to re-examine their mission, future business model and development strategy. Coastalites remained passionate about their dream and mission to change China's real estate scene. They were determined to build affordable, eco-friendly housing through technological means and advanced engineering.

A renewed mission

Family is the bedrock of a prosperous nation, the root of culture and the context within which individuals are able to thrive. In the large urban cities of modern China, it is the dream of every household to be blessed with a home that enables each of their family members to lead purposeful and healthful lives. Thus, the ultimate customer experience led each of Coastal's major decisions in product design and business model.

In 2004, Coastal led the market by establishing a strategic alliance with the country's National Housing and Environmental Engineering Centre. The goal was to build green homes in a number of large development projects across China's major cities. While green buildings were largely an unknown concept in China then, Coastal became a member of the U.S. Green Building Council in 2005 and began to build LEED-ND certified homes that were highly energy efficient and cost-saving.

The implementation of green technologies was no easy task, yet the concept and realization of healthy housing proved to be a success and was well-received by the market. Coastal received honors and awards from a number of institutions for its achievement, including the prestigious United Nations Habitat Scroll of Honor, Green Company Award from the Asia Pacific Environmental Protection Association, and China Real Estate Brand Value Top 10 from the Development Research Centre of the PRC's State Council. Coastal has received the latter award for fourteen years in a row.

In its 27-year journey, Coastal remained committed to its mission and responsibility. Through incorporating elements of technology, nature and culture, it has created several product lines—including the Coastal Riviera, Coastal International Centre and Coastal Silo City series—successfully completing a large number of development projects across the Greater China region

The past twenty-seven years also represent the development and growth of China's real estate development industry. Coastal had been a witness, a participant, an adventurer and a victor during this chapter of China's growth story. Going forward, Coastal will certainty remember where it has come from and remain devoted to its mission of serving its customers with a spirit of innovation and entrepreneurship.