Apr. 10, 2012 (China Knowledge) - Gemdale Corp<600383
>, a Shanghai-based
real estate developer, said yesterday that its contractual sales increased 113.6% year on year to RMB 2.95 billion last month.
In March, the developer sold 260,000 square meters of properties, 161.9% more than in the same month of last year.
In the first three months of this year, Gemdale's contractual sales grew 23.5% year on year to RMB 4.59 billion, and its sales area rose 55.6% year on year to 417,000 sq m.
developer said it plans to launch sales of units in about 13 development projects in the following two months.
In 2011, the company's property sales rose 9.1% year on year to RMB 30.92 billion. The developer only fulfilled 77% of its sales target of RMB 40 billion for the year, according to an earlier report
from China Knowledge.