Greenland Hong Kong Holdings reported that contracted sales for the first nine months of the year soared 263 per cent from a year earlier, reflecting an asset injection under the developer’s back-door listing in the city.
The company, controlled by Shanghai Greenland Group, said on Monday that sales for the year to September came to about 9 billion yuan (HK$11.4 billion), representing a rise of 6.53 billion yuan from the corresponding period in 2013.
The contracted gross floor area sold amounted to about 1.23 million sq metres, up more than 400 per cent. The average selling price was 7,377 yuan per square metre.
Greenland Hong Kong completed the back-door listing after buying 60 per cent of the enlarged issued capital of SPG Land (Holdings) in August 2013.
The company acquired a number of assets from its parent, China’s second-largest developer by sales, including a project in Hangzhou and two others in Kunming.