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New World Development's fiscal H1 sales in China total 11.6B yuan

New World Development Co. Ltd.'s property contracted sales in China reached about 11.6 billion yuan for the fiscal first half ended Dec. 31, 2019.

The half-year sales make up about 57% of the Chinese developer's 20 billion-yuan sales target for the fiscal full-year ending June 30. The average selling price of its apartments was about 32,000 yuan per square meter, according to a Jan. 6 filing.

New World Development said it has made strategic plans for the development of several prime landmarks featuring large-scale mixed-use complexes, skyscrapers, hotels and residential areas in Guangzhou, Foshan and Shenzhen, in response to the social and economic development needs in the Greater Bay Area.

As of Jan. 6, US$1 was equivalent to 6.98 Chinese yuan.