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China Vanke's contracted sales surge 51% in Jun

Jul. 5, 2011 (China Knowledge) - China Vanke Co Ltd<000002><200002>, the country's largest publicly traded residential property developer, has posted RMB 13.2-billion contracted sales for June this year, 51% more than the same period of last year, sources reported.

In June, the real estate developer sold around 1.13 million square meters of properties, 32% more than a year earlier.

During the first six months of this year, the company's contracted sales surged 78.6% year on year to RMB 65.65 billion, and its contracted sales area soared 76.7% year on year to 5.66 million square meters.

No comment was given on the performance data in the first half of this year.

The Shenzhen-listed company added four development projects in June, whose land costs totaled RMB 1.76 billion. In addition, the company will invest RMB 522 million in a redevelopment project in Shenzhen, Guangdong Province.

The company's property sales jumped 70.5% year on year to RMB 108.16 billion in 2010, and its sales area grew 35.3% year on year to 8.98 million square meters in the year.

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