Country Garden posts 1.5-fold increase in sales

Mainland Chinese developer Country Garden Holdings Company Ltd. saw its contracted sales of housing projects surge by more than 1.5 times to 64.92 billion yuan (MOP79.46 billion / US$9.94 billion) for the first four months of the year compared to 24.3 billion yuan during the same period in 2015.
In a filing with Hong Kong Stock Exchange yesterday, the company claimed 50.3 billion yuan of the total sales was attributable to owners of the company. For the period, the developer sold a gross floor area totalling 8.3 million square metres vis-a-vis 3.84 million square metres one year prior.
Meanwhile, the Mainland Chinese company noted that it had achieved subscription sales of 16 billion yuan during the three-day May Day Holiday from April 30 to May 2, with gross floor area of some 1.85 million square metres having been sold. The developer is popular among local residents and Hong Kong investors for its residential projects in the country.