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Shimao Property's September contracted sales grow 57% YOY

Shimao Property Holdings Ltd.'s contracted sales in September increased 57% year over year to 32.09 billion yuan from 20.50 billion yuan.

The Hong Kong-listed property group's contracted sales area for the period rose 42% to 1,809,633 square meters from 1,276,432 square meters, while its average selling price amounted to 17,735 yuan per square meter, according to an Oct. 8 filing.

For the nine months ended Sept. 30, Shimao Property accumulated 173.99 billion yuan of contracted sales and 9,701,627 square meters of contracted sales area, reflecting year-over-year growth of 44% and 32%, respectively. Meanwhile, the company's average selling price for the nine-month period reached 17,934 yuan per square meter.

As of Oct. 7, US$1 was equivalent to 7.15 Chinese yuan.