Billionaires keep bubbling up as China property market soars

(Oct 31): Nowhere on Earth is wealth being created faster than in China’s mainland property market.

The collective net worth of the country’s richest developers has rocketed since the start of the year, adding US$44.3 billion ($60.4 billion) to the fortunes of seven real estate tycoons.

As China’s regulators move to tame a frenzied property market, investors are betting that the largest companies will squeeze out smaller competitors and extend their dominance in a consolidating industry.

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