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Gemdale sees 113.6% in property sales in Mar

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.

The Shanghai-listed 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.

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