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Vanke, Poly, Government Report December & '08 Real Estate Sales
Shenzhen-based real estate developer Vanke (000002.SZ, 200002.SZ) reported December 2008 sales volume of RMB 5.34 billion, down 13.5% year-on-year and up 49.6% month-on-month, on Tuesday. Gross floor area sold declined 13.8% year-on-year but rose 57% month-on-month to 661,000 total square meters in December. Vanke sold a total of 5.57 million square meters in the full year of 2008 to generate sales volume of RMB 47.87 billion, a decline of 9.2% and 8.6% year-on-year respectively.
Beijing-based Poly Real Estate Group Co. Ltd (600048.SH) sold 317,400 square meters in December 2008 to generate sales volume of RMB 2.22 billion, up from 240,800 square meters and RMB 2.01 billion in November. In the full year 2008, the company sold 2.58 million square meters, up 29.48% year-on-year, for sales volume of RMB 20.51 billion, up 20.36% year-on-year.
About 600 million square meters of commodity housing gross floor area were sold in China in 2008, including roughly 500 million square meters in commodity residential units, the vice minister of Housing and Urban-Rural Development, Qi Ji, said in a State Council Information Office meeting on Tuesday. Gross floor area of commodity housing sold in 2007 reached 761.93 million square meters, including 691.04 million square meters of residential housing, reports cnstock.com.
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