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China State Construction inked RMB 755.9 bln of contracts in Jan-Oct

Nov. 13, 2012 (China Knowledge) - China State Construction Engineering Corp Ltd<601668>, China's largest property and construction conglomerate, has said it had inked RMB 755.9 billion worth of new contracts in the first ten month of this year, 14.9% more than it realized in the same period of 2011.

From January to October, the company saw its constructed area covers 577.25 million sq m, reflecting a YoY increase of 19.8%, while the completed area for the period totaled 31.47 million sq m, down 0.5% YoY.

In the first ten months of this year, China State Construction Engineering's property sales rose 29.7% from a year earlier to RMB 96.9 billion and its sales area surged 38.2% YoY to 8.22 million sq m.

Meanwhile, the company added 7.6 million sq m of land reserves, bringing its total land to 63.37 million sq m as at the end of last month.

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