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Shui On Land nets record realty sales
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SHUI On Land Ltd, a developer famed for its Tiandi-series projects in several Chinese cities, said yesterday that it achieved record property sales last year.
Contracted property sales climbed 7 percent annually to 22.98 billion yuan (US$3.3 billion) while turnover surged 172 percent from 2015 to 17.6 billion yuan last year, the Shanghai-based company said in a statement.
Profit attributable to shareholders jumped 38 percent from a year earlier to 1.09 billion yuan last year.
“The past 2016 witnessed a roller-coaster property market in the Chinese mainland where transactions fell sharply and the market slowed toward the final quarter due to tighter measures,” said Vincent Lo, the Hong Kong billionaire and chairman of Shui On Land.
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