SOHO China, a leading real estate developer in China, announced today that its property sales had reached $1.8 billion as of November 26.
The figure is 1.5 times greater than its original sales target of $732 million for 2009.
SOHO China, run by Chairman Pan Shiyi and CEO Zhang Xin seen here, said that sales at its Sanlitun project, which is located in Chaoyang District, Beijing, were $1.125 billion this year so far. Sales at the project in the past month exceeded $300 million.
The Sanlitun project, which has a potential floor area of 460,000 square meters, will consist of five shopping malls and a total of nine buildings for offices and apartments. The office buildings will be finished by the end of this year.
China Knowledge reported that in 2008, the Chinese property developer realized $1.132 billion in contracted sales.