Home » Business » Real Estate
Soho Turnover Plunges As Earnings Climb
By Cherry Cao |
August 26, 2011, Friday
|
Print Edition
Print Edition
COMMERCIAL property developer Soho China yesterday announced its first-half net profit climbed 2 percent to 1.75 billion yuan (US$273 million) on the back of valuation gains in property investments.
Six-month turnover, however, plunged 69 percent to 2.646 billion yuan, due mainly to the lack of new project completions and a decrease in area reserved in advance of sale during the period.
Contract value as of Tuesday reached 8.324 billion yuan, with an average sale price of 58,905 yuan per square meter.
Pan Shiyi, chairman of Soho China, said: "A batch of rein-in policies aimed at curbing housing speculation, coupled with ever-tightening credit since the beginning of this year, has had a significant impact on the residential market over past months."
Six-month turnover, however, plunged 69 percent to 2.646 billion yuan, due mainly to the lack of new project completions and a decrease in area reserved in advance of sale during the period.
Contract value as of Tuesday reached 8.324 billion yuan, with an average sale price of 58,905 yuan per square meter.
Pan Shiyi, chairman of Soho China, said: "A batch of rein-in policies aimed at curbing housing speculation, coupled with ever-tightening credit since the beginning of this year, has had a significant impact on the residential market over past months."
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
