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Kaisa Group's property sales down 20% in Jul

Aug. 8, 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 fell 20% YoY to RMB 1.5 billion in July this year.

Last month, the Hong Kong-listed developer saw its contractual sales area fall 6% YoY to 215,600 square meters, with average sales price standing at RMB 6,782 per sq m.

In the first seven months of this year, the company's contractual sales jumped 26% YoY to RMB 7.9 billion, of which 28% was contributed by western China region, 26% by Pearl River Delta and 21% by the Bohai Economic Rim. Sales area amounted to 1.32 million sq m in the seven-month, up 55% YoY.  

In July, the developer spent more than RMB 1.14 billion to add three projects.

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