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China Vanke almost doubles YOY increase in March sales

China Vanke Co. Ltd.'s sales for March reached 63.64 billion Chinese yuan, up almost twice from the reported amount of 33.61 billion yuan in the year-ago period.

The March sales represented 3,995,000 square meters of sales area. For the first three months, the company recorded 150.27 billion yuan of accumulated sales, with 9,882,000 square meters of sales area.

Since its sales update for February, the company acquired eight new projects in China for an aggregate price of approximately 7.52 billion yuan. China Vanke owns varying equity interests in the projects.

As of April 5, US$1 was equivalent to 6.90 Chinese yuan.