Vanke’s sales by area down by 11.4% yoy in Novem­ber

China Daily (Hong Kong) - - BUSINESSDIGEST -

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.

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