BRIEF: Greentown September sales up nearly 30% month-on-month

Property developer Greentown China Holdings Ltd (3900.HK) on Monday reported September property sales of 10.6 billion yuan ($15.1 million), up 28% from the previous month, but down 15% year-on-year. Despite the year-on-year decline, the performance was still relatively strong compared to most of its peers from China’s struggling property sector. The company said it sold 2,193 units during the month at an average price of 34,629 yuan per meter.

Greentown’s cumulative contracted sales reached 115.5 billion yuan in the first nine months of the year, with 81.9 billion yuan attributable to the company, down by a slight 2% year-on-year.

By Lau Chi Hang

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