Reasonable Contract Sales for China Resources Land Year to Date
Year through November, China Resources Land achieved contract sales of CNY 125 billion, up 26% year on year, or 95% of the full-year target of CNY 132 billion. The increase was attributed to 22% increase in volume and 4% increase in average selling prices. The performance was in line with the sector average. The ongoing government tightening policy is mostly impacting higher-tier cities, resulting in capped prices and falling sales volume. Considering the company's large exposure to these cities...China Resources Land is an investment holding company. Through its subsidiaries, Co. is engaged in the development and sales of developed properties, property investments and management, hotel operations and the provision of construction, decoration and other property development related services in the People's Republic of China. As of Dec 31 2014, Co. operated in four segments: sale of developed properties, property investments and management, hotel operations, and construction, decoration services and others.
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