Jan. 17, 2012 (China Knowledge) - Sino-Ocean Land Holdings Ltd<3377
>, one of the largest real estate developers in Beijing
and the Bohai Economic Rim, has posted 25% contracted sales growth for 2011 with sales totaling RMB 27 billion in the year.
The sales accounted for around 90% of the property developer's annual target of RMB 30 billion.
In a statement filed with the Hong Kong Stock Exchange
, the company's contracted sales stood at RMB 3.1 billion in December 2011, 41% more than RMB 2.2 billion it realized from a month earlier.
Last month, Sino-Ocean Land did not acquire any plot, said the company. Analysts noted that the firm only got a property in Shenzhen
for RMB 2.26 billion in the second half of last year.
Sino-Ocean Land, which opened its first Tianjin-based
department store with a floor area of 80,000 square meters on December 19, 2011, aims to open a total of ten shopping malls in China by 2015.
Wang Fushun, General Manager of the company's commercial property division, said Sino-Ocean Land currently owns nearly 20 commercial property projects under construction.