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Yuexiu Property posts 142% surge in May property sales

Jun. 5, 2012 (China Knowledge) - Hong Kong-listed property developer Yuexiu Property Co Ltd<0123>, formerly known as Guangzhou Investment Co Ltd, has announced that its contractual sales soared 142% YoY to RMB 1.33 billion in May this year.

The company said in a statement that it sold 107,000 square meters of properties last month, reflecting a growth of 112% from the same period of 2011.

In the first five months of this year, the developer saw its contractual sales amount to RMB 6.03 billion, 167% more than in the corresponding period of last year and accounting for 60% of its sales target of RMB 10 billion for 2012.

Yuexiu Property's contractual sales area increased 220% YoY to 486,100 sq m in the five-month period, equivalent to 51% of its target of 960,000 sq m for this year.

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