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Evergrande Real Estate's property sales up 65.6% in Oct

Nov. 7, 2012 (China Knowledge) - Evergrande Real Estate Group Ltd<3333>, a large Chinese property developer, has announced its property sales were RMB 14.26 billion in October this year, up 65.6% YoY or 75.6% MoM.

The company's sales area grew 82.4% YoY or 75% MoM last month to 2.55 million sq m. Average sales price stood at RMB 5,590 per sq m in October.

In the first ten months of this year, the developer's sales amounted to RMB 72.83 billion, accounting for 91% of its sales target of RMB 80 billion for this year. Meanwhile, sales area totaled 12.28 million sq m in the period.

Evergrande Real Estate said earlier that its net profit rose only 1.1% YoY to RMB 5.66 billion in the first half of this year.

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