Guangzhou developer to step up soccer input

Guangzhou R&F soccer club holds a group meeting in Guangzhou, Feb 4, 2015. [Photo/CFP]

Despite the industrial slowdown, real estate developer Guangzhou R&F Properties Co will step up its investment in soccer, aiming to become a domestic power in the sports sector in the future, a top company official said on Wednesday.

"We have introduced a long-term development strategy - we are not only investing in a soccer club, but also in the sports industry," said Lu Yi, vice-chairman of Guangzhou R&F Properties Co.

The company, which has already invested in a local soccer club, plans to build a professional soccer stadium, a training base and a soccer school to support the long-term development of the club, said Lu.

"Development of the sports facilities means we will invest more in the sports sector, especially in soccer, in the long term," he said.

Meanwhile, property sales in China are expected to see a year-on-year decline of between 1 percent and 5 percent this year, said a recent study conducted by global ratings agency Moody's.

The number of Chinese cities registering more than a 5 percent year-on-year decline in home prices doubled to 23 in December from 11 in November, according to data from the National Bureau of Statistics.

The Guangzhou-based developer, which has developed residential and commercial projects in major Chinese cities, saw a 13 percent year-on-year decline in contracted sales in January, according to a preliminary report.

"Despite the slowdown in the property industry, we will continue to invest in the sports sector," Lu said.

At a press conference on Wednesday, which marked the company-invested soccer club's determination to participate in the AFC Champions League, Lu said the club was confident of developing as a soccer power both in the Asian and domestic leagues.

The club, Guangzhou R&F, won a playoff position of the AFC Champions League last season and will make its Asian debut on Feb 10 at the Yuexiushan Stadium in Guangzhou, the capital of Guangdong province.