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China Vanke updates on November sales, acquisitions

In November, China Vanke Co. Ltd. sold 2,296,000 square meters of property for 34.75 billion yuan and splashed 17.59 billion yuan for the acquisition of new projects and logistics developments in China.

The unaudited sales and sales area figures for the reporting month represents an increase from the 29.47 billion yuan logged in the year-ago period.

For the 11 months ended Nov. 30, the developer collected 467.65 billion yuan from the sale of 31,419,000 square meters of property, up from the 341.36 billion yuan it accumulated for selling 25,987,000 square meters during the same period in 2016.

Since its October update, China Vanke purchased 19 new projects with a combined attributable gross floor area of 2,460,000 square meters for nearly 17.09 billion yuan. Within the same time frame, the company also bought four logistics property projects with attributable gross floor area totaling 270,000 square meters for 502 million yuan.

As of Dec. 4, US$1 was equivalent to 6.62 yuan.