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Shimao Property's July contracted sales grow 60% YOY

Shimao Property Holdings Ltd.'s contracted sales in July rose 60% year over year to 20.04 billion yuan from 12.50 billion yuan.

The unaudited sales figure for the month reflects a contracted sales area of 1,130,114 square meters, up 59% year over year from 708,820 square meters, according to an Aug. 6 filing.

The company's average selling price for July amounted to 17,728 yuan per square meter.

In the seven months ended July 31, Shimao Property's contracted sales came to 120.37 billion yuan after divesting 6,689,844 square meters of property at an average selling price of 17,994 yuan per square meter.

As of Aug. 6, US$1 was equivalent to 7.03 Chinese yuan.