Evergrande Had Record-High Property Sales Price in November

Yicai

2016-12-06

(Yicai Global) Dec. 6 -- China Evergrande Group [HKG:03333], the country’s biggest property developer, said its average contracted sales price jumped 16.4 percent last month from a year earlier, reaching a monthly record high.

The average price was CNY9,707 (USD1,414) per square meter in November, the Guangzhou-based company said in a filing to the Hong Kong Stock Exchange.

Specifically, sales volume was about CNY32.14 billion (USD4.68 billion), up by 80 percent from the previous year, while sales area totaled about 3.311 million square meters, up 54.6 percent year-on-year.

The company, which is diversifying into other businesses, raised its full-year sales target 50 percent to CNY300 billion (USD43.7 billion) in August because of strong home sales. The forecast represents a 49 percent increase on last year’s sales.