Vanke’s sales by area down by 11.4% yoy in November
The nation’s largest real estate developer, China Vanke Co Ltd, sold 1.27 million square meters of property in November, down 11.4 percent year-on-year. Its revenue dropped 18 percent to 14 billion yuan ($2.3 billion). Month-on-month, Vanke said its sales volume declined 24.2 percent, with a revenue drop of 19 percent, according to a statement the Shenzhen-based developer filed with the Shenzhen Stock Exchange on Wednesday. Vanke sold 13.9 million sq m of gross floor area in the first 11 months, up 18.2 percent year-onyear. Its revenue increased 25.7 percent to 159.88 billion yuan.