Apr. 16, 2012 (China Knowledge) - Agile Property Holdings Ltd<3383>, a Hong Kong-listed developer of large-scale residential projects, has announced that its contractual sales totaled RMB 6.39 billion in the first quarter of this year, 32% less than in the same period of last year.

The Hong Kong-listed developer sold 522,000 square meters of properties in the first three months, reflecting a year-on-year decrease of 27.5%.

Average sales price dropped 6% year on year to RMB 12,200 per square meter in the quarter.

In March alone, the firm's contractual sales fell 15% year on year to RMB 2.2 billion. Sales area was 219,000 sq m, with average sales price further decreasing to RMB 10,000 per sq.

In 2011, Agile Property reaped RMB 4.11 billion in net profit attributable to shareholders, reflecting a year-on-year drop of 31.3% from RMB 5.98 billion, China Knowledge reported earlier.