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Evergrande Real Estate's property sales double M-O-M in Mar

Apr. 11, 2012 (China Knowledge) - Evergrande Real Estate Group Ltd<3333>, a large Chinese property developer, announced yesterday that its contractual sales rose 99.1% from February to RMB 4.02 billion in March this year.

The developer sold 610,000 square meters of properties last month, 92.9% more than in February.

The company saw its average sales price climb 3.2% month on month RMB 6,597 per sq m in March.

In the first quarter of this year, the company's contractual sales plunged 58.3% year on year to RMB 8.26 billion, accounting for only 10.33% of its target of RMB 80 billion for this year. Sales area totaled 1.30 million sq m in the period, down 54.5% year on year, with average sales price falling 8.2% to RMB 6,362 per sq m.

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