Evergrande posts best-ever rise in April

Business | Kevin Xu 7 May 2020

China Evergrande (3333) said contracted sales in April rose 11.6 percent year-on-year to 65.21 billion yuan (HK$71.2 billion), its best historical record on the same year-on-year basis, after signs of recovery in the mainland property market emerged.

Evergrande's aggregate contracted sales in the first four months surged 19.4 percent to 212.57 billion yuan from a year before.

Meanwhile, Agile (3383) said aggregated pre-sale value climbed 16 percent year-on-year to 10.72 billion yuan in April. However, in the first four months, aggregated pre-sale value plunged 23.14 percent to 26.37 billion yuan from a year before.

In addition, China Aoyuan (3883) said contracted sales fell 9 percent year-on-year to 8.73 billion yuan last month. Contracted sales in the first four months fell 18.65 percent year-on-year to 23.03 billion yuan.

Separately, Midea Real Estate (3990) said contracted sales in the first four months dropped 15.37 percent year-on-year to 24.12 billion yuan.

And Guangzhou R&F Properties (2777) said contracted sales in April increased 4 percent year-on-year to 9.22 billion yuan.

Adrian Cheng, co-head of greater China property at Fitch Ratings, predicted mainland contracted property sales could drop by 15 percent this year due to the pandemic.

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