Feb. 7, 2012 (China Knowledge) - Kaisa Group Holdings Ltd<1638>, which principally develops real estate in China's Pearl River Delta, has posted RMB 558 million-contracted sales for January, reflecting a year-on-year increase of 40%.
However, sales plunged 69% from December 2011, said a person familiar with the matter.
Contracted sales area surged 44% from a year earlier to 70,013 square meters last month. Average sales price stood at RMB 7,976 per sq m in January 2012, compared with RMB 12,470 per sq m in December 2011, representing a decline of 36%. Hong Kong-listed
Kaisa said 58% of the total sales were derived from property sales in the Pearl River Delta, while a combined 26% principally in Chengdu
, 11% in the Yangtze River Delta and only 2% in the Bohai Economic Rim.
As of January 31, 2012, Kaisa had around 7.03 million sq m of properties under construction and 16.39 million sq m in land reserves of potential floor area, sources reported.