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Shimao Property's 8-month contracted sales rise 41% YOY

Shimao Property Holdings Ltd.'s contracted sales for the first eight months of 2019 increased by 41% to 141.90 billion yuan from 100.32 billion yuan in the prior-year period.

The Hong Kong-listed developer's contracted sales area for the comparable period grew 30% to 7,891,994 square meters from 6,078,593 square meters, while its average selling price for the eight months was 17,980 yuan per square meter.

In August, Shimao Property's unaudited contracted sales rose to about 21.53 billion yuan from 15.50 billion yuan a year earlier. Its contracted sales area for the month also improved year over year to 1,202,150 square meters from 860,730 square meters, while its average selling price was 17,906 yuan per square meter.

As of Sept. 3, US$1 was equivalent to 7.18 Chinese yuan.