Nov. 9, 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 61% YoY to RMB 3.53 billion in October this year.
The developer said in a statement that it sold 305,600 square meters of properties last month, 85% more than in the same month of last year. Average sales price for last month was RMB 11,563, up 5% from a month earlier.
In the first ten months of this year, the company's property sales reached RMB 39.23 billion, 28% more than its annual sales target of RMB 30.7 billion.
Shimao Property sold a total of 3.52 million sq m of properties at an average price of RMB 11,138 per sq m in the first ten months.