Bloomberg News

China Vanke October Property Sales Fall 35% From Year Earlier

November 06, 2008

China Vanke Co. (000002), the country's largest publicly traded real-estate developer, said property sales declined 35 percent in October from a year earlier, the fifth monthly fall.

Sales were 3.35 billion yuan ($491 million) last month after the company sold properties with a total floor area of 464,000 square meters, Vanke said in a statement to the Shenzhen Stock Exchange today. Sales fell 38 percent in September, 35 percent in August, 15 percent in July and 23 percent in June.

China Vanke, based in Shenzhen, said it sold property worth about 39 billion yuan in the first ten months of the year, a decline of 7.1 percent from a year earlier.

To contact the reporter on this story: Zhao Yidi in Beijing at at yzhao7@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at at lagerkranser@bloomberg.net


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