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Real estate tycoon Wang Jianlin continued to be on top of the Hurun Real Estate Rich List http://www.seahawksrookiestore.com/Seahawks-Eddie-Lacy-Jersey/ , the Hurun research institute said Thursday in a report based on the 2014 list, though the average wealth of the individuals on the list declined compared to last year.


This is the third consecutive year for 60-year-old Wang, founder and chairman of Dalian Wanda Group, to be ranked as the richest entrepreneur in the property sector in China, with a fortune of 110 billion yuan ($17.93 billion), the report showed.


The threshold of the top 50 richest entrepreneurs on the list dropped to 6.5 billion yuan, 13 percent less from the 2013 list http://www.seahawksrookiestore.com/Seahawks-Earl-Thomas-Jersey/ , and the average wealth of these 50 individuals also declined by 5 percent year-on-year to 14.9 billion yuan, according to the report.


The decline in the average wealth of the rich entrepreneurs was mainly caused by a slowdown in the residential property market, Wang Yongping, secretary--general of the China Commercial Real Estate Association, told the Global Times Thursday.


In September, Dalian Wanda Commercial Properties Co, the real estate subsidiary of Wang's Dalian Wanda Group http://www.seahawksrookiestore.com/Seahawks-Earl-Thomas-Iii-Jersey/ , filed application for its IPO on the Hong Kong stock exchange, which analysts believe is intended to raise funds to support its development in the country's oversupplied commercial property sector.


The IPO is set to be the biggest in Hong Kong since AIA Group raised $20.5 billion in 2010, Reuters reported in September, quoting its own research data.


As the country's leading commercial property developer, the total assets of Wanda Commercial