Wu—chairwoman and co-founder of Chinese real estate developer Longfor—has felt the pressure of the slowing Chinese real estate market. In 2015, Longfor’s revenues dropped 9%, to $7.5 billion. But in the midst of a sluggish market, the reclusive property magnate—a former journalist and editor for the China City Sightseeing Newspaper—has been hunting for growth by spotting undervalued properties. In 2015, she purchased 25 new parcels of land, scooping up property not only in first-tier cities but also second-tier cities like Suzhou and Nanjing. While the reclusive chairwoman has been vague about this year’s plans for expansion, she has said commercial investments are key to Longfor’s future.
Personal Information
| Country | China |
| 2020 Rank | #13 (ASIA) |
| Newcomer? | No |
Company Financials
| 2017 Revenues | $7,548 |
| 2017 Profits | $1,431 |
| Market Value as of 08/30/18 ($M) | $9,347 |