Evergrande goal in sight as sales rise 16pc

China Evergrande (3333) said contracted sales in the first 10 months reached 632.59 billion yuan (HK$733.98 billion), exceeding the sales amount for the whole of last year and achieving 97.3 percent of its 650 billion yuan target for this year.

Sales amounted to 601.06 billion yuan last year. Sales in the first 10 months were up 16.4 percent year-on-year. Contracted sales from September to October was 181.97 billion yuan.

Meanwhile, Midea Real Estate (3990) reported its first ten months contracted sales were up 19.4 percent from a year ago to 97.45 billion yuan. The contracted sales area was around 8.62 million square feet.

Ronshine China (3301) announced its total contracted sales in October to be around 14.71 billion yuan, down 1.95 percent compared to the same period last year. The contracted sales area amounted to 728,200 square meters, dropping 2.34 percent compared to the previous year. The average sales price was 20,200 per sq m.

For the first ten months, contracted sales were up 5.37 percent to 114.83 billion yuan.

KWG (1813) said its pre-sales in October amounted to around 12.54 billion yuan, up 23.8 percent year-on-year. The pre-sales area was around 670,000 sq ft, rising 1.8 percent.

Modern Land (China) (1107) said its October contracted sales improved 60.9 percent year-on-year to 5.04 billion yuan. For the first ten months, the contracted sales amounted to 31.95 billion yuan, up 13.1 percent.