Urbanization has different implications for different property developers. But one thing for sure is that the new type of urbanization is not merely building homes.

Industry analysts said there are mainly two approaches for property developers to jump on the bandwagon of urbanization: offering more facilities and services to better meet customers' demands when building new communities and new towns and building industrial parks and upgrading industries to support the development of new cities.

Vanke Co Ltd, China's largest developer in terms of market value, for instance, would like to be a more service-based company to better meet different demands from its community residents.