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Kaisa reports 101% surge in property sales for Mar

Apr. 9, 2012 (China Knowledge) - Kaisa Group Holdings Ltd<1638>, which principally develops real estate in China's Pearl River Delta, has announced that its contractual sales soared 101% year on year to RMB 1.1 billion in March, driven by robust growth in sales area.

Last month, the Hong Kong-listed developer saw its contractual sales area grew 222% year on year to 190,856 sq m, with average sales price standing at RMB 5,731 per sq m.

In the first quarter of this year, the company's contractual sales jumped 124% year on year to RMB 2.7 billion, and its sales area amounted to 442,948 sq m, up 204% year on year. Average sales price fell 26% from the same period of last year to RMB 6,103 per sq m in the quarter.

In 2011, Kaisa's property sales increased 52% year on year to RMB 15.3 billion, and its sales area grew 149% to 2.18 million sq m.

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