Chinese language property agency Nation Backyard plans mass manufacturing of building robots

0
103


HONG KONG (Information) – China’s largest property developer by gross sales Nation Backyard is planning to begin mass manufacturing of building robots subsequent yr to chop prices and lift effectivity, it mentioned on Friday.

FILE PHOTO: Nation Backyard Holdings Chairman and Government Director Yeung Kwok-keung attends a information convention asserting the corporate’s annual ends in Hong Kong, China March 20, 2018. Information/Bobby Yip

The group, which began investing in robotics analysis and improvement in 2018, mentioned it goals to have not less than one robotic at every of its websites throughout the nation.

Building robots are autonomous gadgets used to restore and construct constructions, which builders hope can reduce prices and enhance website security.

Nation Backyard’s choice to hurry up its robotics improvement got here after security considerations following a collection of incidents at its constructing websites that yr. (reut.rs/2TtWilH)

The developer, which mentioned in 2018 it might make investments 16 billion yuan ($2.33 billion) in robotics every year for 5 years, can be growing robots for its agriculture, restaurant and property administration enterprise.

Its first robotics restaurant opened within the southern metropolis of Guangzhou early this week.

Firm president Bin Mo mentioned at a media occasion that in the long term, Nation Backyard is concentrating on the development of unmanned farms, and plans to supply a house service robotic in every new dwelling it sells.

This yr Mo expects the corporate will purchase extra land than final in anticipation of extra merger and acquisition alternatives. Nation Backyard’s attributable gross sales in 2019 grew 10% to 552.2 billion yuan.

He mentioned he expects dwelling costs in China to be flat within the coming yr, though some cities have relaxed a coverage of limiting purchases to curb hypothesis.

Although Chinese language property funding grew at a stable tempo in 2019, it hit a two-year low in December, including to current indicators of a slackening within the sector and suggesting Beijing may have to supply extra stimulus to stabilize a cooling financial system.

Information on Thursday confirmed China’s new dwelling costs grew at their weakest tempo in 17 months final month, with broader curbs on the sector persevering with to chill the market.

Reporting by Clare Jim; Modifying by Jan Harvey