China Housing & Land Development has reported preliminary pre-sales results for the third fiscal quarter ended September 30, 2009.
The company is based in Xi’an, the capital city of China’s Shaanxi province, and is a leading developer of residential and commercial properties in northwest China. Its figures show the rise and rise of real estate at pretty well every level.
Sales contracts totaled approximately RMB161.7 million (US$23.7 million), which is comprised of residential and commercial unit sales from Junjing II Phase One, Phase Two and Tsining 24-G for a total of 32,066 sq. meters.
The company’s average selling price per sq. meter in the 2009 third quarter was RMB5,042. Junjing II Phase Two, the Company’s major project under development, continued to generate the vast majority of contract sales.
According to data from E-house and the Xi’an Bureau of Statistics, the 2009 third quarter residential sales in Xi’an totaled 3.09 million sq. meters and the average selling price was RMB4,962 per sq. meter, which is a 11.0% increase and 6.9% increase, respectively on the second quarter.
Reuters reported China Housing & Land Development is the only Chinese real estate development company traded on NASDAQ.