Shimao Group Holdings, one of several mainland Chinese developers facing liquidation suits for failing to repay debts, has become the latest to report higher property sales aided by Beijing’s stimulus package aimed at reviving its crisis-hit real estate sector.
The Shanghai-based company said sales in May came to 2.92 billion yuan (US$402 million) worth of properties covering a total area of 229,177 square metres (2.47 million square feet), in a filing with the Hong Kong stock exchange on Friday.
Source: REUTER
