Sep. 7, 2012 (China Knowledge) - China Resources Land Ltd<1109
>, the Hong Kong-listed
real estate unit of China Resources (Holdings) Co Ltd, recently bought four plots with a combined area of 400 Mu for a total of RMB 900 million.
This is the developer's first land purchase in the city, which will help the firm set a foothold there and expand its presence in Northwest China.
In August, the company's contractual sales surged 42% YoY to RMB 5.96 billion, taking its property sales in the first eight months to a total of RMB 33.9 billion, which accounted for 85% its sales target of RMB 40 billion for this year.
Management of the developer expected that its contractual sales may reached RMB 50 billion this year.