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Sunac China sees 2011 sales rise 130%

Jan. 5, 2012 (China Knowledge) - Sunac China Holdings Ltd<1918>, an integrated residential and commercial property developer in China, announced yesterday that its contracted sales surged 130% year on year to RMB 19.2 billion in 2011.

The company said in a statement that the previous year sales were 104.9% more than its original target of RMB 18.3 billion.

The Hong Kong-listed developer sold 1.19 million square meters of properties last year, 63.3% more than that in the previous year. Average sales price soared 41% year on year to RMB 16,100 per sq m in 2011.

In the month of December, the company's property sales were RMB 1.9 billion, and its sales area was 100,000 sq m, with average price at RMB 18,400 per sq m.

Sunac China currently has development projects in six Chinese cities such as Tianjin, Beijing, Chongqing, Wuxi and Suzhou of Jiangsu Province.

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