Jun. 13, 2012 (China Knowledge) – Agile Property Holdings Ltd<3383>, a Hong Kong-listed developer of large-scale residential projects, yesterday announced that its contractual sales grew 18% YoY to RMB 2.4 billion in May this year.

Last month, the property developer saw its contractual sales area exceeded 271,000 square meters, up 20% than a year earlier. However its average sales price declined to RMB 8,868 per sq m from RMB 18,470 per sq m in January 2012.

In the first five month of this year, Agile's contractual sales dropped 19% to RMB 10.9 billion with contractual sales area of 1.03 million sq m, down 11% YoY.

The company will continue its promotion strategy to push up the overall sales, said the company.

As of the end of May, Agile had accomplished 35% of its annual sales target of RMB 31 billion, sources reported.