2 months ago
Stock Market

Shares of Shimao Property Climb After Posting 75% YoY Jump in Sales

Investing.com - China’s real estate developer Shimao Property Holdings Ltd (HK:0813) witnessed a 3.21% leap in its share price on

Investing.com - China’s real estate developer Shimao Property Holdings Ltd (HK:0813) witnessed a 3.21% leap in its share price on Friday in Asia, after it reported a 75% year-on-year leap of contracted sales in 2018.

The Shanghai-based firm’s contracted sales went up from RMB100.77 billion (US$16.14 billion) in 2017 to RMB176.14 billion (US$25.67 billion) last year. The contracted sold area also rose 76% year-on-year from 6 million sqms in 2017 to 10.7 million sqm in 2018.

The average selling property price for 2018 is reported to be RMB16,482 per sqm.

The company’s December sales is also stronger than that in November, rising from RMB19.1 billion (US$2.78 billion) to RMB21.02 billion (US$3.06 billion).