According to Creeaire Real Estate Research, the top 20 enterprises in the construction management sector signed new contracts for a total construction area of 219.26 million square meters in 2025, representing a 16% year-on-year increase. This growth rate is 6 percentage points higher than that of 2024, yet it remains lower than the level seen in 2023. An analysis of the tiered distribution of this new business volume reveals that 10 companies each secured new construction management projects exceeding 10 million square meters during the year, an increase of 5 companies compared to the same period last year. Ranked in order, these companies are GREENTOWN MGMT (09979), Xuhui Construction Management, Runde Management, Blue City Group, Jindi Management, Longfor Longzhizao, China Merchants Construction Management, Xincheng Construction Management, Oceanwide Construction Management, and Jin Construction Management.

Against the backdrop of a continued broader trend of stabilization and recovery in the real estate market, leading construction management firms have demonstrated a strong willingness to expand since 2025, leading to a significant increase in their newly acquired project scale and reversing the "deceleration" in expansion witnessed in 2024. The top 20 enterprises by new construction management scale signed contracts for a total area of 219.26 million square meters in 2025, a 16% year-on-year increase. The growth rate accelerated by 6 percentage points compared to 2024 but still fell short of the 2023 figure. Beyond the 10 companies achieving a scale of over 10 million square meters, 8 firms had new project volumes concentrated in the 5 to 10 million square meter range, while 2 companies secured less than 2 million square meters.

The difficulty of securing new construction management projects has intensified, yet the market concentration among leading firms has increased further. This is primarily attributed to the aggressive business development efforts of top-tier companies in 2025, with Jindi Management, Longfor Longzhizao, and Xincheng Construction Management each achieving year-on-year growth exceeding 50%. The combined market share of the top 10 companies by new project scale reached 77% in 2025, an increase of 6 percentage points from 2024. The industry continues to exhibit a pattern where the strong get stronger, with leading firms firmly holding market share and making it increasingly difficult for other players to break through. Specifically, the top five companies accounted for 45% of the new construction area, a slight decrease of 2 percentage points from 2024, indicating that the industry leaders still command the majority of new business. Meanwhile, companies ranked 5th to 10th held a 33% share, up 10 percentage points from 2024, and firms ranked 11th to 20th accounted for 29%, down 1 percentage point year-on-year.

There is a significant disparity and a clear scale gap in the size of new project contracts signed by different companies. Competition among leading firms is gradually becoming "white-hot," while a severe shakeout is still underway among the smaller, trailing enterprises. Looking at various threshold values, GREENTOWN MGMT, as the industry leader, consistently maintains its position at the top, with a project scale of 35.35 million square meters—double that of the second-ranked company. The scale of the third-ranked company is only 4% higher than the fifth, a significant improvement compared to the 63% gap in 2024, highlighting the intense competition and closely matched expansion scales among the top players in 2025. The largest gap is observed between the 10th and 20th ranked companies, nearly a fivefold difference, underscoring the increasing challenges faced by smaller firms in expanding their business and confirming that the industry "shakeout" is still in progress.