The Chinese developer, which posted a 22.5% rise in first-half profit to RMB2.5 billion ($366 million), said housing supply was expected to increase significantly as corporations began to accelerate the pace of project development and as enterprises’ investment appetite gradually returned.
President Yu Liang, said, "Market supply is expected to grow substantially at the end of 2009. By that time, the issue of insufficient new housing supply will be alleviated."
The project is to create a three-floor exhibition space to show the latest impressive and innovative product designs from the research group, as well as to provide a place to communicate and share the experience of the products with the product users. Vanke wants an encouraging, inspiring and stimulating space within the existing hollowed lobby.
Reuters reported that Vanke, which bought 15 new projects during the six-month period, said it sold 3.49 million square meters of apartment space worth RMB30.8 billion ($4.51 billion) in the first half of 2009, increases of 31.2% and 25.7% respectively from a year earlier.