Home sales surge for Kaisa Group

Kaisa Group (1638) realized contracted sales of approximately 7.9 billion yuan (HK$9.5 billion) last month involving a gross floor area of around 453,724 square meters.

For the first eight months, accumulated contracted sales were 81.85 billion yuan, up 49 percent year on year, putting Kaisa at 63 percent of its target for the year.

The contracted gross floor area for the period was approximately 4.85 million sq m, which was 51.3 percent higher than that of last year.

Kaisa said it had entered into a three-year strategic cooperation framework deal with Carrianna Group (0126) on August 25.

The two parties cooperate in areas like property development, urban renewal, business operation management, property management, logistics management and capital operations, etc, initially in the Guangdong-Hong Kong-Macao Greater Bay Area and gradually expanding to other core cities, according to an exchange filing.

Kaisa will partner Carrianna in phase two and three of its Dongguan Home Town project.

That came as developer Sunac China (1918) also announced its sales results for August.

Contracted sales amounted to around 45.06 billion yuan, while contracted sales area was 3.223 million sq m at an average selling price of about 13,980 yuan per sq m.

As of the end of August, contracted sales value was up 33 percent year on year to 415.17 billion yuan.