The gross floor area sold during the period amounted to 1.1 million square meters.

The mainland property developer said sales in the past three months were stable.

"The group managed to maintain steady sales during the past three months despite the downward sales trend in the property market as a whole," said managing director Xue Ming.

Property consultant Knight Frank said residential sales in key mainland cities shrank after late June as central authorities tightened financing regulations for buying second homes.

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Despite increasing expectations of further tightening measures, developers are unwilling to lower prices amid a declining residential inventory and surging land prices, Knight Frank said.

During July to September, primary residential sales in the leading cities of Beijing, Shanghai and Guangzhou dropped 13.8 percent, 18.7 percent and 41.3 percent, respectively.

Residential transactions in the secondary markets in the three cities also dropped - Beijing by about 15 percent, Shanghai 37 percent and Guangzhou 25 percent in the third quarter. ALFRED LIU