- Friday 2010-02-05 10:55
China Vanke (000002), the largest property developer in China, recorded a 185.9 percent year-on-year surge in transaction value in January 2010 to 6.26 billion yuan, reports China Securities Journal, citing a company announcement on February 5.
The surge in transaction value was achieved on the back of a 83.3 percent year-on-year increase in transaction area to 523,000 square meters.
Since the release of the company's earnings estimate for December 2009, China Vanke has added eight new projects in Ningbo, Zhejiang province and in Dongguan, Foshan and Guangzhou in Guangdong province.
The company paid a total of 4.3 billion yuan for the acquisition of land for these projects.
