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China Merchants Property's sales up 77% in Q2

Jul. 11, 2012 (China Knowledge) – China Merchants Property Development Co Ltd<000024><200024>, a real estate subsidiary of Hong Kong-based China, saw its contractual sales exceeded RMB 10.32 billion in the second quarter of 2012, 77% more than it realized in Q1 2012.

According to a statement filed with the Shenzhen Stock Exchange, the property developer's contractual sales area amounted to 689,300 sq m in Q2, up 43.57% from Q1.

In the first half of 2012, the company's contractual sales surged about 135% YoY to RMB 16.13 billion, while its contractual sales area totaled 1.17 million sq m.

Last year, the Hong Kong based property developer saw its contractual sales reached RMB 21 billion and it aims to surpass that record in 2012, sources reported.

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