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China State Construction’s property sales up 19.3% in Q1

Apr. 12, 2012 (China Knowledge) - China State Construction Engineering Corp Ltd<601668>, China's largest property and construction conglomerate, announced yesterday that its property sales rose 19.3% year on year to RMB 22.3 billion in the first three months of this year.

The company said in a statement that its sales area amounted to 1.54 million square meters, down 5.6% year on year.

During the period from January to March, the company added 2.13 million sq m of land reserves, bringing its total land reserves to 64.07 million sq m as at the end of last month.

The Shanghai-listed firm signed almost RMB 194.7 billion worth of construction contracts in the first three months, up 1.7% year on year. In the same period, the company started 40.22 million sq m of properties, down 0.8% year on year, and completed 5.16 million sq m of properties, down 9.6% year on year.
 
The company is due to release its annual report on Apr. 20.






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