China Economic Review
Charting China’s changing economic terrain · Since 1990
SOHO China's property sales $1.8 billion
December 31, 2008
SOHO China, a leading real estate developer in China, announced its property sales reached $1.8 billion as of Nov. 26. The figure is 1.5 times more than its original sales target of $732 million for 2009. SOHO is the creation of Zhang Xin, a 45-year-old former Goldman Sachs banker, and her husband, Pan Shiyi.SOHO China 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, according to an earlier report from China Knowledge.
China Knowledge reported that in 2008, the Chinese property developer realized $1.132 billion in contracted sales.