Sunac China Holdings Ltd.’s (01918.HK) contracted sales in the nine months to September reached more than 30 billion yuan (US$4.913 billion), 11 percent higher than its original target, the Hong Kong Economic Journal reported Monday, citing sources from the developer. The firm is also confident of exceeding its annual sales target of 50 billion yuan, the sources said. Meanwhile, chairman Sun Hongbin said the company is not adopting an aggressive approach to acquiring land despite its major land purchases recently. For example, it bought the Beijing Agricultural Exhibition Hall plot because the price, at 73,000 yuan per square meter, was “very affordable”, the newspaper quoted Sun as saying.
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