Property News · May 21, 2019

Hong Kong-listed developer Beijing Capital Land fast tracks projects to stay competitive, reports 70pc sales increase


Hong Kong-listed Chinese state-owned developer Beijing Capital Land has reported a 70.6 per cent surge in cumulative contracted sales to 18.8 billion yuan (US$2.7 billion) for the first four months of 2019, on the back of a switch to a strategy of fast turnovers.Ongoing cooling measures put in place by the Chinese government have pushed the company to reduce its average project cycle by 58 days to boost sales. Beijing Capital now tries to obtain project presale permits within nine months, as…

Source : South China Morning Post
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