Business
        

Companies

China's top property developers post big rise in 2010 sales

Updated: 2011-01-12 15:45

(Xinhua)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

BEIJING - Property sales by China's three biggest listed property developers surged in 2010 despite government measures to cool the sector, according to company statements Wednesday.

Poly Real Estate Group Co, China's second largest developer, said its property sales in 2010 rose 52.53 percent year-on-year to 66.17 billion yuan ($10 billion), according to a company statement filed with the Shanghai Stock Exchange (SSE).

Related readings:
China's top property developers post big rise in 2010 sales China Vanke says Nov property sales up 146%
China's top property developers post big rise in 2010 sales China Poly Real Estate H1 sales up 3.3%
China's top property developers post big rise in 2010 sales Poly Real Estate's Jan-May sales top $2b
China's top property developers post big rise in 2010 sales Gemdale opens lower despite forecast of profit increase

Sales of Gemdale Corp, China's third largest developer, jumped 34.6 percent year-on-year in 2010 to 28.34 billion yuan, the company said in a statement filed with the SSE.

In December alone, sales by Poly and Gemdale totaled 9.02 billion yuan and 4 billion yuan, respectively.

China Vanke Co, China's largest real estate company, said on Jan 5 that its sales in 2010 rose 70.5 percent to 108.2 billion yuan.

The property developers' increase in sales came despite government measures efforts to cool the market, including raising down payment requirements and suspending lending for third-home purchases.

Home prices in the nation's 70 cities rose 0.3 percent month-and-month in November and 7.7 percent year-on-year, the National Bureau of Statistics said.

E-paper

Ear We Go

China and the world set to embrace the merciful, peaceful year of rabbit

Preview of the coming issue
Carrefour finds the going tough in China
Maid to Order

European Edition

Specials

Mysteries written in blood

Historical records and Caucasian features of locals suggest link with Roman Empire.

Winning Charm

Coastal Yantai banks on little things that matter to grow

New rules to hit property market

The State Council launched a new round of measures to rein in property prices.

Top 10 of 2010
China Daily in Europe
The Confucius connection