Property Developer China Merchants Shekou Industrial Zone Holdings' Sales Jump 61% Year-on-Year
Yicai Global
/SOURCE : Yicai
Property Developer China Merchants Shekou Industrial Zone Holdings' Sales Jump 61% Year-on-Year

(Yicai Global) June 12-- China Merchants Shekou Industrial Zone Holdings, a property developer, has released its operation data for the first five months of this year. Driven by the continuous increase in real estate prices, the company's contracted sales surged 77.3 percent on a yearly basis to CNY43.262 billion (USD6.3 billion) in the first five month of the year.

Data published yesterday by the Shenzhen-headquartered developer indicate that the developer's cumulative contracted sales area was 2.36 million square meters in the January through May period, a year-on-year increase of 56.2 percent. Last month, the developer signed transaction contracts for 479,800 square meters of the housing area, up 33.9 percent year-on-year. The contracted sales reached CNY8.92 billion, 61 percent year-on-year growth.

In addition, the sales data also reveals that China Merchants Shekou Industrial Zone Holdings has recently acquired 4 land development projects with a total land area of 253,100 square meters for CNY9.797 billion.

In its 2016 annual report, the company reported a sales area of 4.71 million square meters and cumulative sales of CNY73.9 billion. It has also set a sales target of CNY100 billion in 2017.

As per the public data, there are 12 Chinese property developers whose sales stood above CNY100 billion in 2016.

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Keywords: PROPERTY , Operation , Sales , HOUSING , LAND , BUYING , PRICES