China Overseas Land Nov property sales rise 37 pct
HONG KONG, Dec 10 (Reuters) - China Overseas Land (0688.HK) said on Wednesday its property sales in November rose 37.4 percent from a year earlier to HK$2.26 billion ($290 million), boosted by strong growth in sales in central and western China.
The Chinese property group said November sales rose 11.7 percent from October, while total sales amounted to HK$25.08 billion for the first 11 months of this year, up 34.3 percent from the year-ago period.
Shrugging off concerns over weak sentiment in China's property market, the company said sales so far this year had met its target. It gave no further details.
China Overseas Land, which is involved in property development in 20 Chinese cities, Hong Kong and Macau, said it had added 2.8 million square meters of new land reserve so far this year to 25.27 million square meters. That would be sufficient for its development use in the next 4 to 5 years. (US$1=HK$7.8) (Reporting by Donny Kwok, Editing by Jacqueline Wong)
