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Yuexiu Property's sales surge nearly 5 folds in Apr

May. 8, 2012 (China Knowledge) - Hong Kong-listed property developer Yuexiu Property Co Ltd<0123>, formerly known as Guangzhou Investment Co Ltd, has posted RMB 1.6 billion of contractual sales for last month, reflecting a year-on-year jump of nearly five folds.

Around 60% of the sales were derived from commercial property sector, said an analyst.

In a statement filed with the Hong Kong Stock Exchange, the firm said its contractual sales area soared by about seven folds to 102,700 square meters in April.

During the period from January to April 2012, the property developer saw contractual sales total nearly RMB 4.7 billion, reflecting a year-on-year jump of 175% or accounting for 47% of its annual target. Contractual sales area amounted to 379,100 sq m, soaring 274% from a year earlier or accounting for 39% of its sales target this year.

Yuexiu Property expects to launch seven new property projects in the coming months principally in Guangzhou, capital of Guangdong Province, sources reported.

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