July 13, 2024


B.C. real estate: CRA audits uncover $1.3 billion in unpaid taxes

The CRA identified $957 million in unpaid income taxes over eight years of audits targeting B.C. real estate, more than five times the amount in Ontario, which has three times B.C.'s population

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After taking a deeper look into B.C.’s real estate sector, Canada’s tax regulator has uncovered $1.3 billion in unpaid tax bills.

The Canada Revenue Agency has dramatically ramped up its auditing of real estate in recent years, scrutinizing both personal transactions and professional activities.

The agency has found “a disproportionate amount of non-compliance” in Canada’s largest metropolitan centres, with Metro Vancouver “identified as an area that requires our unique attention,” said Jason Charron, director general of the CRA’s compliance programs branch, recently. “We’re continuing to focus on the Lower Mainland, where we know there’s non-compliance.”

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Since launching a dedicated real estate task force in 2019, the CRA has mostly focused on Ontario and B.C., increasing the number of audits performed, sending out reassessment notices for billions in additional taxes the agency believes should be paid, and levying hundreds of million dollars in penalties.

In Ontario, the agency assessed $1.4 billion in unpaid taxes and penalties in the real estate sector between 2015 and 2023. B.C., which has about a third of Ontario’s population, had almost the same amount of tax non-compliance identified over the same period: $1.3 billion.

These real estate audits looked at a wide range of activities and entities: property-sellers illegitimately claiming the principal residence exemption, unreported capital gains, people who reside outside of Canada and invest in property here, share transfers and corporate structures designed to mask a property’s beneficial owners, and the activities of homebuilders and realtors.

Although the total value of unpaid taxes and penalties found in B.C. and Ontario was similar, the nature of non-compliance was markedly different in the two provinces. In Ontario, most non-compliance identified by the CRA in real estate was related to unpaid GST and HST on new homes or inappropriately claimed rebates on those taxes. In B.C., most of the non-compliance related to income tax.

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Data provided by the CRA shows that the agency identified $957 million in income tax-related non-compliance in B.C. real estate between 2015 and 2023, more than five times the amount found in the larger province of Ontario, at $178 million, over the same period.

The CRA says confidentiality laws prevent the release of information about the audits, but sent a written statement that said, in general, the income tax-related non-compliance included:

• Situations where a taxpayer acquired an expensive home without a clear reported source of income

• Profits from the quick flipping of homes that aren’t properly reported as taxable business income

• People, including those who aren’t residents of Canada, failing to report capital gains on sales of real estate

• Unreported income earned outside of Canada

• Non-compliance by realtors and developers.

The CRA declined to say how which categories the $957 million broke into  — for example, how much was related to property flippers or developers or non-residents — citing the need to protect taxpayer information and maintain “the integrity of our risk assessment system.”

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The number of income tax-related audits CRA conducted in B.C. real estate increased by almost 10 times between the 114 audit files opened in the 2015 fiscal year and the 1,089 opened last year.

There has been a corresponding boom in what the agency calls “audit assessments,” meaning the combined value of unpaid taxes still owing and penalties levied. Income tax-related audit assessments related to B.C. real estate averaged $6.4 million annually for the two fiscal years between 2015 and 2017, and shot up to an average of $155.1 million annually over the most recent two-year period, a 2,300 per cent increase.

Canada’s 2019 federal budget included $50 million over five years for the CRA to create a real estate task force, with specialized audit teams. Last month, the 2024 budget boosted that funding to $73 million for the next five years.

This work seems to be “paying for itself and then some,” said Tom Davidoff, an associate professor at the University of B.C.’s Sauder School of Business. The findings show there was “obviously” some kind of problem with tax compliance in this sector, he said, “but what we don’t know is how big of a problem it is now … If there was a problem and they solved it, that would be fantastic.”

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For years, many British Columbians were “ringing the bell” about people cheating on their taxes with real estate dealings, said Davidoff, director of UBC’s Centre for Urban Economics and Real Estate. This recent crackdown might not make housing in B.C. significantly more affordable, he said, “but it’s real money and it’s certainly useful to get it back where it belongs.”

Davidoff co-authored a 2022 paper published in The Canadian Tax Journal, which examined the top five per cent of Greater Vancouver homes had a median value of $3.7 million, while the median owner paid income taxes of just $15,800. This was the lowest correlation of property values to income tax contributions of any North American city, the authors wrote, concluding that “most luxury homes in Greater Vancouver appear to be purchased with wealth derived from sources other than earnings taxed in Canada.”

Considering these earlier findings, Davidoff said it makes sense that the CRA’s recent audits of B.C. real estate uncovered income tax “chicanery.”

Representatives of both the Greater Vancouver Realtors and the Canadian Home Builders Association of B.C. said they haven’t heard anything from their members about any recent increases or changes in CRA activity.

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Canadians for Tax Fairness, a non-profit tax policy advocacy group, said it welcomes the CRA “doing more to ensure that the real estate sector complies with tax laws, and we encourage the government to adequately fund the CRA so they can do their job.”

In an emailed statement, Canadians for Tax Fairness spokeswoman Erica Shiner said: “Tax avoidance continues to be a problem in many sectors, costing Canadians billions in revenue each year.”

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US Outdoor Furniture Market to Hit $12.83 Billion by 2028, Eco-Friendly and Compact Designs Fueling Growth

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US Outdoor Furniture Market

US Outdoor Furniture MarketUS Outdoor Furniture Market

US Outdoor Furniture Market

Dublin, Feb. 16, 2024 (GLOBE NEWSWIRE) -- The "U.S Outdoor Furniture Market - Focused Insights 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The latest industry insight has been released, presenting focused data and comprehensive analysis on the US outdoor furniture market. The report reveals an anticipated robust growth, projecting the market value to reach a substantial $12.83 billion by 2028. This trend reflects a significant compound annual growth rate (CAGR) of 5.51% from 2022.

The US outdoor furniture market is experiencing an upward trajectory, fueled by an array of factors including the increasing demand for lightweight and stylish furniture solutions. The push for durability and weather resistance in furniture designs is also underpinning market expansion. Furthermore, a notable shift towards sustainable and eco-friendly outdoor furniture options is resonating with the environmentally conscious US consumer base.

Key Highlights of the Market:

  • Launching from a valuation of $9.30 billion in 2022, the outdoor furniture market is set for significant growth.

  • Eco-friendly and sustainable furniture options are carving out substantial market share, indicating a rising consumer conscience.

  • Demands within the residential sector skyrocket, while the hospitality industry shows a keen interest in expanding its range of outdoor seating and lounging options.

  • Plastic outdoor furniture is gaining popularity for its lightweight and portability, making it a choice pair for consumers prioritizing flexibility and ease of use.

Market Segmentation & Future Forecast

The study delves into nuanced market segmentation focusing on materials used, product types, end-user categories, and distribution channels:

  1. A material-wise segment that includes wood, metal, plastic, among others.

  2. Product-specific insights covering seating sets, loungers, dining sets, tables, chairs, and more.

  3. End-user segmentation that differentiates between residential and commercial applications.

  4. Distribution channel analysis between offline and online stores.

The detailed market structure overview also encompasses market dynamics and a competitive landscape, providing insights into strategic positioning and operations of key and other prominent vendors in the US outdoor furniture space.

Market Dynamics: The report provides an in-depth look at the drivers and restraints affecting market growth, alongside existing and emerging trends that are shaping the industry outlook.

Competitive Landscape: This research offers a critical analysis of the existing competitive field, profiling leading companies and examining the role of other significant market players.

The comprehensive nature of the study equips stakeholders, investors, and industry professionals with a robust tool to navigate the complexities of the US outdoor furniture market. It sets a precedent for informed decision-making and strategic planning within the sector.

For those seeking to understand the current market scenario and to anticipate future trends, this report is an invaluable resource.

The report includes an appendix section providing additional information on research methodology, abbreviations, and analyst expertise, reinforcing the rigor and precision behind the data and forecasts presented.

Key Topics Covered:

  1. Market Insights

  2. Trends and Opportunities

  3. Industry Overview

    • Competitive Landscape

    • Key Players

  4. Future Outlook and Methodology

  5. Appendix

Key Attributes

Report Attribute


No. of Pages


Forecast Period

2022 - 2028

Estimated Market Value (USD) in 2022

$9.3 Billion

Forecasted Market Value (USD) by 2028

$12.83 Billion

Compound Annual Growth Rate


Regions Covered

United States

A selection of companies mentioned in this report includes

  • Ashley Furniture Industries Inc.

  • Berkshire Hathaway Inc.

  • Brown Jordan Inc.

  • Interogo Foundation

  • Home Depot Product Authority LLC

  • Williams-Sonoma, Inc.

  • Agio International Company, LTD

  • Sunset West USA

  • Gabriella White LLC

  • Lloyd Flanders, Inc.

  • Century Furniture LLC.

  • HNI Corporation

  • Herman Miller Inc.

  • Lowe's Companies Inc.

  • The Prestwick Companies

  • Countryside Amish Furniture

  • Molteni&C

  • Castelle

  • Mallin Casual Furniture

  • Woodard Furniture

  • Sika Design

  • Oxford Industries

  • Joss & Main

  • Winston Furniture Company of Alabama, LLC

  • Poly-Wood, LLC

  • O.W. Lee

  • Bernhardt Furniture Company

  • Design Within Reach

  • Target Brands, Inc.

  • Telescope Casual

  • Homecrest Outdoor Living


  • Seaside Casual Furniture


  • Cane-line.com.

  • Walmart

  • Wayfair LLC

  • Costco Wholesale Corporation

  • Bed Bath & Beyond Inc.

  • Keter

  • Otto GmbH

  • Restoration Hardware

For more information about this report visit https://www.researchandmarkets.com/r/30zubj

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


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Young ones Home furniture Marketplace to hit $ 91.7 Billion by 2032, Says

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Selbyville, Delaware, May possibly 04, 2023 (World NEWSWIRE) -- As per the report posted by Global Sector Insights Inc., the World wide Little ones Furniture Current market was estimated at USD 42.2 billion in 2022 and is envisioned to surpass a valuation of $ 91.7 Billion by 2032, progressing at a CAGR of 8.1% from 2023 to 2032. The report delivers a comprehensive assessment of major successful tactics, motorists & alternatives, aggressive scenario, wavering current market traits, industry measurement, statistics & estimations, and key investment decision pockets.

A escalating amount of mom and dad are anxious about the development and very well-becoming of their little ones. Mother and father are searching for furniture that is specifically built to satisfy their kid’s demands as they come to be much more conscious of how the natural environment impacts their children's physical and cognitive enhancement. Kids are far more most likely to hold great posture and stay clear of physical pressure or damage when they are sitting on cozy and age-correct furniture. Young children are shielded from likely potential risks when the household furniture is produced with additional basic safety characteristics.

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Plastic home furniture for kids attracting superior demand from customers

As for every materials, the kids home furniture market share from plastics segment is predicted to history a lot more than 8% CAGR from 2023 to 2032. Plastic furniture is a sensible option for parents who want home furniture that can be speedily moved for the reason that it is light-weight and portable. The level of popularity of plastic chairs and tables is fueled by the fact that they are stackable and uncomplicated to keep when not in use. As children grow older, they increase in top and bodyweight, which needs new furniture practically every single several many years. To save dollars and not invest substantially on home furniture, parents are likely to obtain plastic home furniture when compared to wood ones as they are much less expensive and the far better possibility for growing young children.

Essential good reasons for children household furniture market place expansion:

  • Amplified concentrated on their childrens improvement and effectively-becoming has surged the sales of compact, uncomplicated-to-transfer, and assemblable children home furniture
  • Amplified the selection of daycare and crèche services ensuing in an greater desire for kids home furnishings
  • Rise in twin-income mothers and fathers has amplified expenditure on children’s goods

Hazard of SIDS to affect product sales of cribs for youngsters

Dependent on solution, young children home furniture industry share from the cradles and cribs phase is forecasted to cross USD 10.3 billion by 2032. Cradles and cribs are created in a way to offer a safe and cozy sleeping atmosphere to babies and youthful youngsters. The demand from customers for these cribs is raising about the yrs as they have protection actions like rails and good guidance to reduce mishaps. It also makes certain that kids have a tranquil night's snooze. Sudden infant demise syndrome (SIDS) or accidental fatalities are brought about by suffocation or strangulation in infants though sleeping. According to the AAP data, virtually 3500 babies die every calendar year thanks to SIDS, thanks to which pediatricians advise employing cribs for protected snooze.

Extensive assortment of product availability across specialty suppliers

In phrases of distribution channels, little ones furnishings marketplace share from the specialty shops segments is predicted to record additional than 8.5% CAGR from 2023 to 2032. Specialty shops frequently inventory uncommon and niche merchandise that are unavailable at more substantial outlets. This can apply to household furniture that is custom made and built by purchase or by hand. These stores also make household furniture notably to meet the needs of distinct age teams or developmental levels. These shops also have all the most current layouts providing consumers a more substantial range to pick out from.

Demand for aesthetic household furniture across APAC

Asia Pacific little ones furniture industry size is predicted to cross USD 20.5 billion by 2032. Asian mother and father are drawn to stylish, modern day home furniture that is the two aesthetically pleasing and practical. The area is renowned for its inventive and artistic design and style, which is evident in its children's furniture. As per estimates, in 2022, the start charge in India was approximately 17.163 for each 1000 folks. With every new beginning, the have to have for kids household furniture in the region is expected to increase.

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Rivals prevailing in the world-wide young children home furnishings industry

BABYLETTO, Casa Youngsters, Crate and Barrel, Sorelle Household furniture, Boingg, KidKraft, Wayfair LLC, Circu Magical Home furniture, Williams Sonoma Inc., Flexa, Initial Cry, and Blu Dot, are some of the important players in the global young children furnishings market place. Organizations are utilizing approaches like new solution launches, collaborations, partnerships, and additional.

Partial chapters of report desk of contents (TOC):

Chapter 3   Kids home furniture Sector Insights

3.1    Market segmentation

3.2   Industry landscape, 2018- 2032

3.3    Industry ecosystem examination

3.4    Know-how landscape

3.5    Regulatory landscape

3.6    Pricing investigation

3.7    Marketplace affect forces

3.8    Development possible assessment, 2022

3.9    Porter’s evaluation

3.10    PESTEL examination

Chapter 4   Competitive Landscape, 2022

4.1    Introduction

4.2    Organization market share, 2022

4.3    Competitive investigation of significant marketplace gamers

4.4    Aggressive positioning matrix

4.5    Strategic outlook matrix

Chapter 5   Kids furniture Market place, By Substance

 5.1Key content tendencies

5.2    Wood

5.3    Plastic

5.4    Steel

5.5    Other people

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About World wide Sector Insights

World-wide Market Insights Inc., headquartered in Delaware, U.S., is a world wide market exploration and consulting provider provider, offering syndicated and custom study experiences alongside with expansion consulting expert services. Our enterprise intelligence and marketplace analysis experiences present consumers with penetrative insights and actionable marketplace information specially made and presented to support strategic decision producing. These exhaustive reviews are built via a proprietary research methodology and are accessible for essential industries such as substances, innovative supplies, technology, renewable energy, and biotechnology.


Building And Construction Sheets Market to Reach $233.74 Billion By 2030: Grand View Research, Inc.

SAN FRANCISCO, April 26, 2023 /PRNewswire/ -- The global building and construction sheets market size is expected to reach USD 233.74 billion by 2030, registering CAGR of 5.7% from 2023 to 2030.The increasing spending in the construction and building industry by governments in major countries such as U.S., Canada, and China is expected to boost product demand.

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Key Industry Insights & Findings from the report:

  • Metal sheets accounted for 35.7% of the revenue share in 2022 on account of the availability of a wide range of metal deposits and the high durability of metal components. Lead, aluminum tin, zinc, copper, and iron & their alloys are among the metals used in building & construction sheet products; however, aluminum is the most commonly used metal owing to its lightweight and anti-corrosion properties.

  • Roofing applications were estimated at USD 36.04 billion for the year 2022, and the demand is projected to be fueled by the surge in residential construction activities in developed nations along with expanding product penetration into various applications. Whereas flooring exhibited as the fastest growing application segment with a CAGR of 6.1% in terms of revenue over the forecast period owing to increasing demand for aesthetically, superior and durable floor sheets solutions.

  • Building and construction sheets serve a variety of purposes, including bonding, glazing, protection, insulation, and sound and waterproofing. However, protection accounted for the largest revenue share in 2022 owing to the rising demand for the product in different applications including roofing and windows & doors.

  • With rising demand for residential real estate in both developing and developed economies, global spending on residential building construction is outpacing industrial and commercial spending. As a result, residential construction accounted for the largest market share in 2022 and is likely to register a CAGR of 6.2% over the forecast period.

  • Distribution of building & construction sheets via direct supply accounted for a major revenue share of over 77.4% for building & construction sheets on account of the presence of well-established distribution channels and logistical systems. Direct distribution channels provide cost-effective bulk products to a wide range of application industries.

  • The Asia Pacific exhibited to be the largest and fastest-growing region on account of rising spending in residential real estate construction over the forecast period. The rapidly growing industry in Asia Pacific is characterized by a rising population, rapid urbanization, and strong economic growth, which is expected to drive the product market at a CAGR of 6.6% over the forecast period. The major manufacturers in the building & construction sheets market include Paul Bauder GmbH & Co. KG, GAF Materials Corporation, Atlas Roofing Corporation, CertainTeed Corporation, and Owens Corning Corp. These companies are engaged in the adoption of strategic initiatives such as research and development and vertical integration to gain a competitive edge.

Read full market research report, "Building And Construction Sheets Market Size, Share & Trends Analysis Report By Product (Bitumen, Rubber, Metal, Polymer), By Application (Flooring, Ceiling, Windows, Doors, HVAC), By End-use, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Building And Construction Sheets Market Growth & Trends

The rapidly expanding urbanization and industrialization are also driving the building & construction sheets market growth. Furthermore, the increasing focus on industrial and public infrastructure requirements across the globe is projected to create potential demand over the forecast period. The economic development across rapidly developing countries including India, Mexico, and Nigeria is further projected to propel the building & construction sheets market growth.

There is continuous involvement of government and international non-profit organizations in the development of their respective areas and countries in terms of infrastructural development projects that can meet the demand of the growing population. Additionally, the rising focus to limit the emission of greenhouse gases (GHG) across the buildings and construction industry is another factor anticipated to create demand in the near future.

Polymer sheets are used in a variety of applications in the building and construction industry, including sound barriers, greenhouses, window glazing, and furniture. Furthermore, the growing trend of interior decoration and architecture is expected to boost the demand for polymer sheets and their raw materials such as polyester, PVC, polyamides, and polyurethanes.

The building & construction sheets market is segmented into residential, commercial, and industrial based on end-use. The market for metal sheets in residential air handling and ventilation systems is expected to grow in response to rising demand for modern heating, cooling, and ventilation systems in modern buildings. Furthermore, rising green building practices are increasing the demand for bio-based polymer sheets in the residential sector.

North America is expected to be driven by the growing residential and commercial real estate industries in the United States, owing to rising consumer confidence and low-interest rates. Additionally, the construction industry is one of the primary contributors to Canada and Mexico's annual GDP, which is expected to drive the market over the forecast period.

Stringent regulations governing the depletion and recycling of conventional materials such as metal and wood are expected to drive demand for bio-based polymers in building and construction applications. Building & construction sheets market growth is being driven by the use of polymers in form sheets in FRP bridge sections, bridge bearings, flooring, and cladding panels' applications..

Building And Construction Sheets Market Segmentation

Grand View Research has segmented the global building and construction sheets market on the basis of product, application, function, end-use, distribution channel, and region

Building And Construction Sheets Market - Product Outlook (Volume, Million Square Meters; Revenue, USD Million; 2018 - 2030)

  • Bitumen

  • Rubber

  • Metal

  • Polymer

Building And Construction Sheets Market - Application Outlook (Volume, Million Square Meters; Revenue, USD Million; 2018 - 2030)

  • Flooring

  • Walls & Ceiling

  • Windows

  • Doors

  • Roofing

  • Building Envelop

  • Electrical

  • HVAC

  • Plumbing

Building And Construction Sheets Market - Function Outlook (Volume, Million Square Meters; Revenue, USD Million; 2018 - 2030)

  • Bonding

  • Protection

  • Insulation

  • Glazing

  • Water Proofing

Building And Construction Sheets Market - End-use Outlook (Volume, Million Square Meters; Revenue, USD Million; 2018 - 2030)

  • Residential

  • Commercial

  • Industrial

Building And Construction Sheets Market - Distribution Channel Outlook (Volume, Million Square Meters; Revenue, USD Million; 2018 - 2030)

Building And Construction Sheets Market - Regional Outlook (Volume, Million Square Meters; Revenue, USD Million; 2018 - 2030)

  • North America

  • Europe

  • Asia Pacific

  • Central & South America

  • Middle East & Africa

List of Key Players of Building And Construction Sheets Market

  • Paul Bauder GmbH & Co. KG

  • GAF Materials Corporation

  • Atlas Roofing Corporation

  • CertainTeed Corporation

  • Owens Corning Corp.

  • Etex

  • Fletcher Building Limited

  • North American Roofing Services, Inc.

  • Icopal ApS


Check out more related studies published by Grand View Research:

  • Steel Rebar Market - The global steel rebar market size is expected to reach USD 415.79 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.9% from 2022 to 2030. Increasing investments in infrastructure revamping projects and construction activities are anticipated to drive the market over the forecast period.

  • Carbon Steel Pipe Fittings Market - The global carbon steel pipe fittings market size is expected to reach USD 10.39 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.7% from 2022 to 2030. Moderate oil & gas exploration activities along with the rise in demand for petrochemical products are expected to assist the market growth.

  • U.S. Steel Rebar Market - The U.S. steel rebar market size is expected to reach USD 9.28 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.5% during the forecast period. The increasing investments in the construction & infrastructure projects are expected to propel the demand for steel rebar in the country during the forecast period.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.


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Wooden furniture market size to grow by USD 49.3 billion, Insights on the key drivers and trends

NEW YORK, Nov. 30, 2022 /PRNewswire/ -- The wooden furniture market size is projected to grow by USD 49.3 billion, progressing at a CAGR of 2.73% from 2021 to 2026. Based on region, the global wooden furniture market is segmented into North America, South America, Europe, APAC, and MEA. APAC is estimated to contribute 46% to the growth of the global market over the forecast period. The increase in office space owing to the rise in the number of corporate offices will facilitate the wooden furniture market growth in APAC over the forecast period.

Technavio has announced its latest market research report titled Global Wooden Furniture Market 2022-2026Technavio has announced its latest market research report titled Global Wooden Furniture Market 2022-2026

Technavio has announced its latest market research report titled Global Wooden Furniture Market 2022-2026

For insights on the other segments - Request a free sample!

Wooden furniture market: Growth of the real estate and construction industries drives the growth

  • The growth of the real estate and construction industries is driving the wooden furniture market growth. The number of single-person and two-person households has increased, which has contributed to the rise of home construction. Moreover, the increase in investments in the global real estate market during the past decade has significantly fueled the global wooden furniture market. Developing economies are also witnessing the expansion of the real estate sector. Thus, the growth of the real estate and construction industry will drive the wooden furniture market growth during the forecast period.

Wooden furniture market: Increasing adoption of eco-friendly furniture is the key trend

  • The increasing adoption of eco-friendly furniture is a key trend in the market. Concerns regarding global warming have led to the adoption of eco-friendly furniture. Hence, consumers are purchasing eco-friendly furniture, such as furniture made from Moso bamboo. Moreover, several non-profit trade associations have introduced guidelines for the suppliers and manufacturers of eco-friendly furniture to promote health, environmental equilibrium, and well-being. Such factors will support the growth of the global wooden furniture market during the forecast period.

Download our exclusive report on the wooden furniture market covering market challenges, vendor analysis, and growth opportunities

Wooden furniture market: Segmentation analysis

This market research report segments the wooden furniture market by application (home and office) and geography (APAC, Europe, North America, South America, and Middle East and Africa).

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others. Buy the report!

Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

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Related reports:

The upholstered furniture market size is expected to increase by USD 15.96 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.04%. Furthermore, this report extensively covers upholstered furniture market segmentation by distribution channel (offline and online) and geography (APAC, North America, Europe, South America, and Middle East and Africa).

The home furniture and bedding market size in the US is projected to grow by USD 10.86 billion with a CAGR of 2.96% during the forecast period 2021 to 2026. Furthermore, this report extensively covers the market segmentation by distribution channel (offline and online) and product (living room furniture, bedroom furniture, storage furniture, and others).

Wooden Furniture Market Scope

Report Coverage


Page number


Base year


Forecast period


Growth momentum & CAGR

Accelerate at a CAGR of 2.73%

Market growth 2022-2026

USD 49.3 billion

Market structure


YoY growth (%)


Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 46%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Ashcomm LLC, Danube Group, Duresta Upholstery Ltd., FABRYKI MEBLI FORTE SA, Global Furniture Group, Godrej and Boyce Manufacturing Co. Ltd., Haworth Inc., Herman Miller Inc., HNI Corp., Inter IKEA Holding BV, Kimball International Inc., Kinnarps AB, Natuzzi SpA, Nilkamal Ltd., Okamura Corp., Pan Emirates Home Furnishings, Samson Holding Ltd., Steelcase Inc., Turri Srl, and Williams Sonoma Inc.

Market dynamics

Parent market analysis; market growth inducers and obstacles; fast-growing and slow-growing segment analysis for the forecast period dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse Consumer Discretionary Market Reports

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Application

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

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Global Wooden Furniture Market 2022-2026Global Wooden Furniture Market 2022-2026

Global Wooden Furniture Market 2022-2026



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Building Thermal Insulation Market to Worth $42.53 Billion by 2029

Fortune Business Insights

Fortune Business Insights

Companies covered in building thermal insulation market are BASF (Germany), Atlas Roofing Company (U.S.), Cellofoam North America Inc. (U.S.), DuPont (U.S.), Knauf Insulation (U.S.), Owens Corning (U.S.), Armacell S.A. (Luxembourg), Beijing New Building Material (Group) Co., Ltd. (China), Evonik (Germany), PT. Bondor Indonesia (Indonesia), BYUCKSAN (South Korea), Huamei Energy-saving Technology Group Co., Ltd. (China), Johns Manville (U.S.), Kaneka Corporation (Japan), KCC Corporation (South Korea), Kingspan Insulation LLC (Ireland) and more players profiled.

Pune, India, May 19, 2022 (GLOBE NEWSWIRE) -- The global building thermal insulation market size was USD 29.85 billion in 2021. The market is projected to grow from USD 31.15 billion in 2022 to USD 42.53 billion in 2029 at a CAGR of 4.5% during the 2022-2029 period. This vital information is presented by Fortune Business Insights™, in its report titled, “Building Thermal Insulation Market, 2022-2029.” Factors such as the ability to reduce energy consumption in buildings and provide supplementary support to the building structure will boost the growth of the market during the forecast period. Also, the rising adoption of Do-it-Yourself (DIY) insulation projects will increase the footprint of the market.

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List of Key Players Present in the Building Thermal Insulation Market:

  • BASF (Germany)

  • Atlas Roofing Company (U.S.)

  • Cellofoam North America Inc. (U.S.)

  • DuPont (U.S.)

  • Knauf Insulation (U.S.)

  • Owens Corning (U.S.)

  • Armacell S.A. (Luxembourg)

  • Beijing New Building Material (Group) Co., Ltd. (China)

  • Evonik (Germany)

  • PT. Bondor Indonesia (Indonesia)

  • BYUCKSAN (South Korea)

  • Huamei Energy-saving Technology Group Co., Ltd. (China)

  • Johns Manville (U.S.)

  • Kaneka Corporation (Japan)

  • KCC Corporation (South Korea)

  • Kingspan Insulation LLC (Ireland)

  • Lloyd Insulations (India) Limited (India)

  • NICHIAS Corporation (Japan)

  • ROCKWOOL International A/S (Denmark)

  • U.P. Twiga Fiberglass Limited (India)

  • GAF (U.S.)

  • Superglass Insulation Ltd. (Scotland)

  • Recticel Group (Belgium)

  • Ursa (Spain)

  • Firestone Building Products (U.S.)

Report Scope & Segmentation

Report Attribute


Market size value in 2021

USD 29.85 Billion

Revenue forecast in 2029

USD 42.53 Billion

Growth Rate

CAGR of almost 4.5% 2022-2029

Base Year


Historic Years

2018 - 2020

Forecast Years

2022 - 2029

Segments Covered

By Material, By Application, By End-Use

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2022 to 2029

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa, and Rest of World

Countries Covered

Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Number of Companies Covered

BASF (Germany), Atlas Roofing Company (U.S.), Cellofoam North America Inc. (U.S.), DuPont (U.S.), Knauf Insulation (U.S.), Owens Corning (U.S.), Armacell S.A. (Luxembourg), Beijing New Building Material (Group) Co., Ltd. (China), Evonik (Germany), PT. Bondor Indonesia (Indonesia), BYUCKSAN (South Korea), Huamei Energy-saving Technology Group Co., Ltd. (China), Johns Manville (U.S.)

Report Coverage

Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Customization Scope

Avail customized purchase options to meet your exact research needs.

COVID-19 Impact

Rising Requirement of Healthcare Infrastructure to Drive Market Share During Pandemic

As the threat of the pandemic became apparent in its inception stage, emerging economies, including China, India, Germany, Italy, and Brazil imposed severe lockdowns to curb the spread of the virus during Q4 of 2019. However, government agencies focused on building healthcare infrastructure to withstand the ongoing surge in patients, which allowed the building thermal insulation sector to flourish. Dominant players are focused on integrating insulation products for reducing energy demands and supporting a quantifiable environment that can sustain an optimal workflow.

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Report Coverage

The report for building thermal insulation consists of qualitative and quantitative analysis by encompassing critical factors such as leading companies, products, and raw materials. Additionally, the report contains ongoing industry developments and future market trends to make a comprehensive view of the market. Also, the report provides factors that are expected to influence the market in an impactful manner during the forecast.

Drivers & Restraints

Increasing Building & Construction Sector and Rising Energy Expenditure to Bolster Growth

Factors such as an expanding building & construction sector and rising attributes including reducing heat transfer rate and fire & impact resistance will boost the building thermal insulation market growth during the forecast period. Additionally, growing industrialization and increasing demand for energy expenditure will increase the footprint of the market. Also, the increasing deployment of low-energy insulation products and the rising adoption of DIY kits will fuel the growth of the market.

However, rising health concerns regarding the adoption of thermal insulation products will limit the growth of the market during the forecast period.

Regional Insights

Asia Pacific to Witness a Dominant Market Share due to Strict Regulations Regarding Energy Usage

Asia Pacific will hold the largest building thermal insulation market share during the forecast period due to large-scale infrastructure developments planned by government bodies of China & India along with increasing impositions on energy usage to name a few.

North America will occupy a considerable market share during the forecast period owing to significant investment by various government organizations for energy-saving measures and a rising level of high-level of public awareness.

Europe will witness moderate growth during the forecast period due to the rising usage of building thermal materials regarding retrofitting work.

Competitive Landscape

Mergers & Acquisitions and Product Development to Augment Market Share Toward an Inflated Market Share

The market for the building thermal insulation sector is highly fragmented with the top 10 businesses accounting for over 70% of the total market share. Some players have put a considerable amount of investment toward R&D activities to gain a competitive edge. The market leaders further boast of a diversified product portfolio along with offering better-operating efficiency in order to capture a larger consumer base. Small business practices are engaging in mergers & acquisitions in order to consolidate the remaining market share.

Key Industry Development

Browse Detailed Summary of Research Report with TOC:


Detailed Table of Content:

  • Introduction

  • Executive Summary

  • Market Dynamics

    • Market Drivers

    • Market Restraints

    • Market Opportunities

  • Key Insights

    • Key Emerging Trends – For Major Countries

    • Industry SWOT Analysis

    • Regulatory Analysis

    • Recent Industry Developments - Policies, Partnerships, New Material Launches, and Mergers & Acquisitions

  • Qualitative Insights – Impact of COVID-19 on Global Building Thermal Insulation Market

  • Global Building Thermal Insulation Market Analysis, Insights and Forecast, 2018-2029

TOC Continued…!

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Cryogenic Insulation Market Size, Share and Global Trend By Form (Foam, Multilayer, Bulk Fill), By Type (Fiberglass, Cellular Glass, Perlite Insulation, Polyurethane, Polyisocyanurate, Others), By End-Use Industry (Oil and Gas, Chemical and Fertilizer, Food and Beverage, Transportation, Electronics, Others) and Geography Forecast till 2022-2029

Industrial Insulation Market Size, Share & Industry Analysis, By Type (Fiberglass, Rockwool, Calcium silicate, Plastic foams, Others), By Form (Pipe Insulation, Board & Blanket, Others), By End-Use Industry (Power Genaration, Refinery, Chemicals & Petrochemicals, Fire Protection, Others) Others and Regional Forecast, 2022-2029

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Manhattan residential real estate profits strike document $7.3 billion in very first quarter

Luxurious large-rise residences are viewed across Central Park South near Columbus Circle in the Manhattan borough of New York.

Robert Nickelsberg | Getty Visuals

Manhattan household genuine estate product sales topped $7 billion in the first quarter, marking the strongest-at any time begin to a 12 months as the current market displays no signs of slowing, in accordance to new income data.

There had been 3,585 gross sales in the very first quarter, the optimum quantity at any time for a initial quarter, according to a report from Miller Samuel and Douglas Elliman. Which is up 46% from the first quarter of 2021. Total product sales quantity surged by 60% to over $7.3 billion, as falling stock also led to continued expansion in costs.

The regular cost of a Manhattan apartment jumped 19% about the prior year's period of time, to $2,042,113.

The toughness came inspite of climbing interest premiums, concerns about a feasible recession and falling stocks, which have a tendency to have an outsize effect on the Manhattan authentic-estate market place provided the city's dependence on the money market.

It will not appear like a force for a return to the office is driving the raise, either. Only about 36% of New York employees have returned to the place of work, according to facts from Kastle Units.

Jonathan Miller, CEO of Miller Samuel, the appraisal and exploration organization, mentioned the assumption that individuals are living in Manhattan mainly because of their positions is now staying challenged.

"You have a whole lot of individuals who are doing work remote, but want to be in Manhattan," he explained. "They're attracted to the cultural choices, the dining establishments, Broadway. Distant function would not just suggest the suburbs. There could be as lots of people working remotely on the Upper East Side of Manhattan as there are in Westchester."

Growing desire fees also have significantly less influence on rich customers, who dominate the Manhattan marketplace. As prices go up, they just fork out more money. Far more than 47% of all real-estate buys in the quarter have been all-cash, up from the pandemic very low of 39%, and closer to the historic norm.

Yet another reason for Manhattan's energy at the begin of 2022 was supply. Though the relaxation of the region grapples with a lack of houses for sale, Manhattan even now has ample inventory, even even though it is declining. Pretty much 5,000 listings strike the current market in the quarter, the most of any very first quarter on record, in accordance to Corcoran. Nonetheless for the 1st time in five years, inventory dipped less than 6,000 models.

"With robust profits and bettering selling prices, barring any unexpected shocks, this stellar initial quarter ought to have all people feeling pretty optimistic about a further momentous calendar year in advance," explained Pamela Liebman, Corcoran's president & CEO.

The problem is how a lot larger Manhattan charges can go in advance of customers start out backing down from bargains. The median price tag of a Manhattan apartment strike an all-time report of $1,190,000 in the to start with quarter. The median cost for new enhancement topped $2.3 million.

The biggest cost gains are at the major. Rates for apartments with four or more bedrooms jumped 31% over very last 12 months, to $6.5 million. As consumers droves charges higher, only 20% of apartments bought went for fewer than $1,200 a sq.-foot, the cheapest percentage on history, in accordance to Corcoran. 

$420 Billion Expended in 2020 on Dwelling Remodeling Tasks by People in america All through Covid

In accordance to new results in the 2022 Remodeling Effect Report, a joint research from the National Affiliation of Realtors and the National Association of the Transforming Field, U.S. homes noticed property owners and people embark on a huge wide variety of renovations and transforming jobs in excess of the earlier calendar year.

This year's report analyzes a quantity of property advancement areas, which includes why individuals determine to remodel, the general expenses of particular remodeling responsibilities, and the fulfillment expert after a successful venture has been finished.

"Our research uncovered that property owners have a tendency to undertake a remodeling venture for any amount of good reasons," claimed Jessica Lautz, vice president of demographics and behavioral insights at NAR. "In some scenarios, house owners had been content material with sprucing up a home with a easy paint task, though in other situations, households made a decision to consider on the undertaking of renovating an full attic or basement to insert added dwelling house to their household."

The report notes that People spent $420 billion in 2020 on home remodeling ventures. Ninety per cent of NARI customers cited a bigger demand for contracting reworking perform during the training course of the pandemic. Three out of 5 NARI users - 60% - reported the scale of the projects grew either in a larger sized task or remodeling a lot more than just one space owing to the pandemic.

"This report is the initially one particular to measure the impact of the pandemic on the value and relative price of various transforming assignments," explained Chris Egner, MCR, CKBR, CRPM, UDCP, and president of NARI. "We are happy that NARI associates, who are among the the most seasoned remodelers, could present realistic estimates of transforming expenses in line with the criteria specified in the survey."

Despite the fact that 83% of shoppers mentioned that they would have remodeled no matter of the pandemic, 86% documented that reworking just one area of their residence then influenced them to transform other areas of the household.

The precise reasons why house owners resolved to modify their living areas different. 30-5 % of owners reported the single most significant result from their rework was far better features and livability. Upon completion of their task, 22% said they experienced long lasting and extended-long lasting effects, components and appliances. Fourteen per cent noted attractiveness and aesthetics as a result of their transform.

"The pandemic has modified the way we use our residences, and a lot of of these adjustments are here to stay," stated Lautz. "As a outcome, owners wanted to reconfigure or rework how they use their house and increase area."

Additional than a third of house owners (35%) hired a experienced for their total project, even though 28% claimed that they employed anyone for the labor but obtained the essential components. Twenty-two p.c of property owners did the complete job by themselves, from get started to end.

The NAR/NARI report aimed to work out consumers' viewpoints toward their tasks upon completion. Projects that made the renovators want to continue to be dwelling, or remodel work that sparked an maximize of satisfaction among occupants, received a higher Joy Rating, with 10 staying deemed a best Joy Score. Some duties that ended up awarded scores of 10 were being as follows: painting a home's total interior, portray one particular home, adding a dwelling workplace, hardwood flooring refinishing, closet renovation, and insulation updates, amongst other labors.

Hardwood flooring refinishing gained a 10 Pleasure Rating since the home owners felt joy and pleasure in their house following enterprise the update. Sixty-4 % of those people polled answered that they have an amplified sense of satisfaction when they are at dwelling now that their hardwood flooring is mounted. Another 64% mentioned just considering about the completed venture provides them a "major sense of accomplishment."

Incorporating a new home workplace is a different job that acquired a perfect Pleasure Rating based on homeowners' sentiments. Ninety-just one p.c of buyers claimed they have a higher drive to be residence now that their place of work is in place. Seventy-3 percent said they have an amplified perception of enjoyment when they are household.

The NAR/NARI report also examines a lot of transforming responsibilities and presents a value recovery estimate for the initiatives. The authentic charge of just about every remodeling undertaking and cost recovery are influenced by numerous aspects, like task layout, top quality of supplies, area, age and situation of the residence, and home-owner choices.

"Very often, an added benefit to household renovations is the possibility of an boost in the home's benefit, which is a cause why some persons remodel," mentioned Lautz. "This is particularly useful to a house owner who may possibly be thinking of offering their residence or converting the house to a rental house."

Realtors delivered an estimate of the probable dollar value each challenge would include to a property all through resale. In evaluating that greenback value to the believed charge of every position supplied by NARI users, a Recovered Challenge Value proportion was tabulated. In regard to inside jobs, the greatest share expense recovered was from refinishing hardwood flooring at 147%. New wood flooring was at 118%, and an insulation upgrade was at 100%. Among the exterior tasks, new roofing and a new garage doorway both of those recovered 100% of the venture charges.

Kitchen updates were also common among homeowners, with the process receiving a 9.8 Joy Score. The major explanation (32%) to consider on a kitchen overhaul was the wish to enhance worn out surfaces, finishes or elements. The 2nd leading explanation (20%) was to include capabilities and boost livability.

In accordance to NARI remodelers' charge estimate, the average kitchen rework would be about $45,000. Realtors estimated that $30,000 of that sum could be recovered as a result of the renovation. That would be a 67% restoration amount.

True Estate Listings Showcase

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China True Estate Developer Guangzhou R&F Sees “Not Significantly less Than” $1.2 Billion Loss In 2021

Having difficulties Chinese serious estate developer Guangzhou R&F expects to report a loss of “not much less than” 8 billion yuan, or $1.2 billion, for the 12 months ending 2021 amid slack need and extra supplies that have battered the residence marketplace in the world’s No. 2 financial state.

“The expected internet decline is largely attributable to lessen in sales earnings attributable to reduce contracted profits and recognition of homes marketed, decline in gross income margins, as well as the maximize in impairment provision for stock owing to decreased selling prices of the projects and lessen contribution of other profits recorded by the team for the calendar year,” R&F said in a assertion currently.

R&F extra: “The drop in earnings is a consequence of hard running problems in the residence sector, (the) ongoing pandemic, and economic uncertainty top to unfavorable marketplace sentiment that has impacted the sector. The group will continue on to assess the impairment provision for inventory based on the principle of prudence, which could result in even more adjust in the aforementioned predicted web reduction.”

The extent of financial problems at some of China’s greatest authentic estate providers is turning out to be far more clear amid earnings time for stated organizations. Shimao Team Holdings, a different big developer from the state, claimed right now it envisioned internet financial gain to fall 62% from a yr previously in 2021 and that PricewaterhouseCoopers experienced resigned as its auditor.

R&F’s Hong Kong traded shares have shed 69% of their price in the previous calendar year. Co-chair Zhang Li has however managed to keep onto a fortune worth $2.5 billion on the Forbes Authentic-Time Billionaires Checklist now Li Sze Lim, the other co-chairman, is value $1.7 billion

See related posts:

Thriving in China, New York Accountant Seems To Southeast Asia For New Advancement

Battered Guangzhou R&F Gets $1 Billion Funding Pledge

China’s Trip.com Posts $131 Mln In Fourth Quarter As Pandemic Drags On