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China State Construction inked RMB 577 bln of contracts in Jan-Jul

Aug. 13, 2012 (China Knowledge) - China State Construction Engineering Corp Ltd<601668>, China's largest property and construction conglomerate, announced that it had inked RMB 577.6 billion worth of new contracts in the first seven month of this year, 18.5% more than it realized in the same period of 2011.

From January to Jul, the company saw its constructed area covers 529.6 million sq m, reflecting a YoY increase of 24.8%, while the completed area for the period totaled 19.1 million sq m, up 10.9% YoY.

In the first seven months of this year, China State Construction Engineering's property sales rose 19.6% from a year earlier to RMB 67.8 billion and its sales area surged 25.7% YoY to 5.33 million sq m.

Meanwhile, the company added 4.31 million sq m of land reserves, bringing its total land to 66.24 million sq m as at the end of last month.

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