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Shimao Property's property sales up 22% in Jul

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.







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