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Kaisa Group's property sales down 12% in Jun

Jul. 6, 2012 (China Knowledge) - Kaisa Group Holdings Ltd<1638>, which principally develops real estate in China's Pearl River Delta, has announced that its contractual sales rose 30% MoM but fell 12% YoY to RMB 1.5 billion in June this year.

Last month, the Hong Kong-listed developer saw its contractual sales area grew 15% MoM but dropped 5% YoY to 255,752 square meters, with average sales price standing at RMB 6,018 per sq m.

In the first six months of this year, the company's contractual sales jumped 44% YoY to RMB 6.5 billion, and its sales area amounted to 1.1 million sq m, up 77% YoY. Average sales price fell 19% YoY to RMB 5,858 per sq m in the period.

Last month, the developer won the bid for a piece of land in Fengxian District of Shanghai for RMB 400 million, equivalent to RMB 4,740 per sq m of floor area.

In 2012, Kaisa Group aims to sell RMB 16.5 billion of properties, up from RMB 15.3 billion recorded in 2011, according to an earlier report from China Knowledge.

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