SOHO China's Sanlitun project reaps RMB 6.74 bln as of Oct 19

Oct. 22, 2009 (China Knowledge) - SOHO China Ltd<0410>, a leading real estate developer in China, on Monday announced that sales revenue from its Sanlitun project totaled RMB 6.74 billion as of Oct. 19, sources reported.

The Sanlitun project, which is located in Chaoyang District, Beijing, reaped RMB 1 billion in sales revenue in the period from Oct. 1 to Oct. 19. Apartments in the project, which began selling on Oct. 17, generated RMB 774 million in sales revenue within two days.

In the first eight months of this year, the Hong Kong-listed firm's contracted sales revenue was RMB 7.4 billion, of which the Sanlitun project contributed over 50%.

The project, which has a potential floor area of 460,000 square meters, will consist of five shopping malls and a total of nine buildings for offices and apartments. The office buildings will be finished by the end of this year.

SOHO China reaped RMB 7.9 billion in sales revenue as of Sep. 30 and aims to realize RMB 10 billion this year, said Chairman Pan Shiyi. Last year, the firm's sales revenue was RMB 7.73 billion. It currently has RMB 50 billion worth of properties for sale, sources reported.