R&F Properties
Guangzhou R&F Properties Co., Ltd. (“R&F”)
Website: http://www.rfchina.com/
Company Size: 10,001+ employees
Guangzhou R&F Properties Co., Ltd. (“R&F”) was established in 1994 with a registered capital of CNY806 million focused on the design, development, construction, sale, property management and property related services in China and officially licensed to develop high class property developments and provide top rate property design, construction, property management and property related services. R&F is today regarded as a leading comprehensive property developer in China. On July 14, 2005, R&F made a successful debut listing on the Stock Exchange of Hong Kong and subsequently became the first China property developer to be includ ed as a constituent member of the Hang Seng China Properties Index. Since its establishment in 1994, our senior management and team has devoted their attention and level of detail to win the praise and recognition of our customers. As a testament to our commitment and solid foundation, we have been recognized for numerous accolades including ranked as the number 1 in terms of overall strength among all property developers in China for five years consecutively between 2005 and 2009 based on National Statistics Bureau, in 2008 was ranked number 1 amongst “China Top 100 Tax Payers”, and in 2012 became the first amongst a handful of companies to be regarded as an “Enterprise Headquarter Recognized by Guangzhou City”. R&F continues to lead the way in gaining recognition in China as a leading China property enterprise.
San Francisco-based Full Power Properties is a US company linked to the Guangzhou-based builder
Address: 1426 Fillmore St, San Francisco, CA 94115
Full Powers Properties successfully purchased two major high-rise apartment development sites from Barry Swenson in downtown San Jose in 2017 and one project from KT Properties in 2014
St. James Tower project purchased in 2014
Park View Towers project purchased in 2017
North San Pedro Towers project purchased in 2017
R&F Ready to Build 525 Silicon Valley Homes
R&F’s apparent new purchase is a pair of already entitled projects which together would yield more than 1 million square feet (920,000 square metres) of space across three acres (12,000 square metres) of central San Jose. In a statement cited in the local media report, Full Power representatives said that the Chinese developer plans to “advance the drawings towards a ground breaking on both projects in late 2017.”
The Park View Towers project is approved for 220 luxury homes across two towers, plus 15,000 square feet of ground-level retail across three buildings. Plans for the North San Pedro Tower includ e 305 units of housing and also incorporate ground-level retail.
While rising US interest rates have created fears of a slowing home market, demand for homes in Silicon Valley continues to be the strongest in the nation, according to a recent report by property listings website Redfin. In February, 63 percent of homes in San Jose sold for above their list price, according to the online platform’s data, stronger than San Francisco, where selling prices came in at more than asking rates in 62 percent of the cases recorded.
Returning to the Site of First US Venture
For R&F, the health of the San Jose market is good news, after Full Power chose the northern California city for its first US project in 2014, buying an 8,100 square metre site for a $250 million residential development. Since that first foray in San Jose, the alleged R&F affiliate has gone on to purchase three projects in San Francisco, including paying $28.5 million in 2014 to acquire a project site at 325 Fremont Street in the city.
R&F now has investments in Angola, Australia, Cambodia, Malaysia and the UK, in addition to these US ventures. In February the Chinese builder signed a $4.8 billion agreement to invest in a new city development in Brisbane, Australia, and the company followed up by signing a pair of London investment deals worth more than $1.8 billion in March and April.
