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Country Garden records 37% YOY jump in 5-month contracted sales

Country Garden Holdings Co. Ltd. logged 334.52 billion yuan of contracted sales for the first five months of 2018, marking a 37% climb from 244.22 billion yuan in the year-ago period and firmer than the 257.52 billion yuan recorded for the year to April 30.

The five-month figure represented the highest contracted sales among all mainland Chinese developers, with a record-breaking 70 billion yuan of sales logged in May. The real estate giant also cited industry analysts who said its investments in third- and fourth-tier Chinese cities was the primary contributing factor for May's figures.

As at 2017-end, Country Garden had 1,456 real estate developments spread across 220 prefecture-level cities in China, with 59% of these projects located in first- and second-tier cities and the remaining 41% situated in third- and fourth-rate cities.