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China Evergrande reports YOY jump in November contracted sales

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China Evergrande reports YOY jump in November contracted sales

China Evergrande Group's contracted sales jumped year over year in November to 48.06 billion yuan from the record-setting 32.14 billion yuan that was logged in the year prior.

During the reporting month, the developer contracted 4.847 million square meters of property at an average selling price of about 9,916 yuan per square meter.

Year-to-November, China Evergrande accumulated an estimated 470.40 billion yuan in contracted sales, which translates to roughly 47.319 million square meters of sales area and an average selling price of 9,941 yuan per square meter. The unaudited 11-month figure for 2017 is higher compared with the roughly 348.85 billion yuan recorded in 2016.

In November, the developer and its subsidiaries were involved in a number of notable deals in China, including a US$3 billion investment agreement with Suning Holdings Group and a 3.29 billion yuan acquisition deal with Ying Li International Real Estate Ltd. for the Ying Li International Commercial Centre project in Chongqing.

As of Dec. 4, US$1 was equivalent to 6.62 yuan.