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Top Biz News

Sales soar for China's largest property developer in 2009

(Xinhua)
Updated: 2010-01-07 16:24
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China Vanke Co, the country's largest real estate enterprise, said its annual sales jumped 32.5 percent year-on-year to 63.4 billion yuan ($9.3 billion) in 2009.

The floor space Vanke sold last year rose 19.1 percent from a year earlier to 6.63 million square meters, it said in a report to the Shenzhen Stock Exchange Thursday.

However, the Shenzhen-based company said sales in December grew only 3 percent to 5.5 billion yuan compared with December 2008, and floor space sold in December fell 38.7 percent from a year earlier to 405,000 square meters.

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Shares of Vanke closed down 0.77 percent Thursday from the previous day to 10.28 yuan on the Shanghai bourse.

Vanke ranked top in the List of Sales for Real Estate Enterprises in 2009 released last week by E-house China R&D Institute, a Shanghai-based real estate research institute.

During the first 11 months in 2009, nationwide investment in real estate totaled 3.13 trillion yuan, up 17.8 percent year on year, according to the National Bureau of Statistics.