China Overseas Land says H1 apartment sales soar

HONG KONG, July 10 (Reuters) - Top Chinese property developer China Overseas Land (0688.HK) said its apartment sales for the first half of 2009 jumped 66.1 percent on year to HK$26.3 billion (US$3.4 billion) as demand for homes remained strong.

The developer said it sold 2.83 million square meters of apartments during the six-month period, up 92.4 percent from the same period a year earlier.

Apartment sales for June rose 31.6 percent on year to HK$6 billion with total gross floor area sold rising 32.5 percent to 665,900 square meters, the company said.

It said no new land was acquired in June and total land reserve of 24.8 million square meters was sufficient to meet its needs in the next 4-5 years.

Chinese property transactions have picked up in recent months thanks to government stimulus measures, which have fuelled demand for domestic property on the mainland. (US$1=HK$7.75) (Reporting by Donny Kwok; editing by Jacqueline Wong)