Contracted sales at Greenland Group up 50% in 2014
China property developer to increase non-property investments this year
Hong Kong
CHINA'S state-backed property developer Greenland Group said its 2014 contracted sales rose 50 per cent from a year earlier, including overseas sales that surged nearly five-fold.
It also said it would speed up non-property investments this year, including opportunities in dairy, food and winery in Australia.
Contract sales totalled 240.8 billion yuan (S$51.7 billion) for the year, of which 15.3 billion yuan was from overseas, Greenland, one of the top developers in China, said in a statement on Sunday evening.
The overseas sales figure was below the 20 billion yuan target Greenland set for last year, for which the company cited different regulations on disclosure as the reason.
The actual contracted sales have reached 20 billion yuan, it said on Monday.
Shanghai-based Greenland has said last year it aimed for overseas sales to reach 40 billion yuan in 2015. In 2015, Greenland said, it would speed up its international expansion, focusing on the first-tier cities in developed countries. REUTERS
