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China State Construction inks RMB 840 bln of contracts in Jan-Nov

Dec. 11, 2012 (China Knowledge) - China State Construction Engineering Corp Ltd<601668>, China's largest property and construction conglomerate, has said it had inked RMB 840 billion worth of new contracts in the first eleven month of this year, 17.4% more than it realized in the same period of 2011.

From January to November, the company saw its constructed area cover 589.77 million sq m, reflecting a YoY increase of 18.3%, while the completed area for the period totalled 36.76 million sq m, down 5.2% YoY.

In the first eleven months of this year, China State Construction Engineering's property sales rose 29% from a year earlier to RMB 101.2 billion and its sales area surged 39% YoY to 8.72 million sq m.

Meanwhile, the company added 8.27 million sq m of land reserves, bringing its total land to 64.11 million sq m as at the end of last month.

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