BRIEF: Shimao’s sales fall 22% year-to-date through November

Property developer Shimao Group Holdings Ltd (0813.HK) announced on Sunday that its aggregated contracted sales in the first 11 months of this year fell 22% year-on-year to 31.2 billion yuan ($4.29 billion), involving 2.45 million square meters of floor space, also down 11%. Property prices also continued to fall during the period, with the average price per square meter at 12,800 yuan, down 12% year-on-year.

Sales in November totaled 2.72 billion yuan, down 12.5% compared to October, but up 12% from the same period last year.

By Lau Chi Hang

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