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Friday, January 04, 2019, 15:14
Real estate developer Vanke posts steady sales growth in 2018
By Xinhua
Friday, January 04, 2019, 15:14 By Xinhua

Workers build a property project for China Vanke Co in Fuzhou, capital of Fujian province. (PROVIDED TO CHINA DAILY)

BEIJING - China's leading real estate developer China Vanke reported steady sales growth in 2018, according to a company statement filed to the Shenzhen Stock Exchange Friday.

The company saw total property sales on contracts reach 606.95 billion yuan (about US$88.3 billion) last year, with a combined area of 40.38 million square meters sold, the statement said.

ALSO READ: Real estate sector to see steady expansion

The value of sales was up 14.5 percent from 529.88 billion yuan in 2017, while the area of properties sold was up 12.3 percent.

In December alone, sales in terms of area stood at 4.39 million square meters, while sales in value were 63 billion yuan.

READ MORE: Vanke denies blame for soaring rents

China's real estate sector maintained stable development last year, with property sales growing 12.1 percent year on year to 12.95 trillion yuan in the first 11 months of 2018, down 0.4 percentage points from a year earlier.

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