Share
HONG KONG: Chinese property developer Poly (Hong Kong) Investments Ltd (Poly HK) said its contracted sales rose 62% in the first nine months to 12.2 billion yuan (RM6 billion) despite Beijing's tight credit policy to slow the country's rampant property market.
"The Group has maintained stable sales performance in recent months in the midst of market adjustment process," Xue Ming, chairman of Poly HK, said in a statement on Wednesday.
Its contracted sales for the first three quarters had already surpassed full-year sales of 11.4 billion yuan in 2010, the company said.
But China's tight credit and other measures to cool the country's property market and high inflation have dampened home sales of many real estate companies in the past few months.
China Overseas Land & Investment Ltd's contract sales fell 18% in September to HK$6.6 billion (RM2.67 billion) while sales in the first three quarters rose 54.7% from a year ago to HK$71.3 billion.
Poly HK did not provide monthly figures.
The company would launch more new residential projects and adopt a receptive sales strategy to the evolving market in the next three months, Xue said. — Reuters
SHARE
