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Developers' China revenues surge.
(From The Standard)
Byline: Raymond Wang
Two Hong Kong-listed property developers said flat sales and revenue from new projects on the mainland more than doubled in the first quarter.
New World China Land, a unit of telecom-to-property conglomerate New World Development, reported a 167 per cent year-on-year surge in sales in the quarter to more than one billion yuan (HK$942.6 million).
The sale of about 200,000 square metres of total gross floor area, mainly in Beijing and Guangzhou, generated 600 million yuan in revenue, investor relations manager Aldoux Chiu said. He said the encouraging results were due to the prime location and quality …
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