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Gemdale sales volume up 86% in seven months

(Xinhua)
Updated: 2009-08-10 15:54

China's Gemdale Group, a leading property developer, announced Saturday its sales volume had surged 86.22 percent year-on-year in the first seven month of 2009 to 11.05 billion yuan ($1.62 billion).

Special Coverage: Housing in China Related readings:  China Overseas Land's property sales double in July  Property sales decline in July  China's property climate index up for three straight months  Property prices edge up in June

Total home sales space of the company rose 88.27 percent to 1.04 million square meters nationwide from January to July, boosted by the robust domestic property market performance, said the developer in a statement to the Shanghai Stock Exchange.

For July alone, the Shenzhen-based developer sold a total amount of 193,400 sq m of homes, up 156.5 percent year-on-year, with the aggregate sales volume reaching 2.48 billion yuan, up 157.2 percent year-on-year.

The Shanghai-listed firm's shares had fallen 5.24 percent to 16.81 yuan a share Friday before the release of the report.