Aug. 8, 2012 (China Knowledge) - Shimao Property Holdings Ltd<0813
>, a Shanghai-based
property developer founded by Chinese billionaire Xu Rongmao, has said that its property sales rose 22% YoY to RMB 4.02 billion in July this year.
The developer said in a statement that it sold 399,600 square meters of properties last month, 59% more than in the same month of last year.
In the first seven months of this year, the company's property sales reached RMB 26.53 billion, reflecting a growth of 51% YoY and accounting for 86.4% of the firm's sales target for this year.
Shimao Property sold a total of 2.35 million sq m of properties at an average price of RMB 11,291 per sq m in the first seven months.