Vanke topped turnover rank in first half 2012

China Vanke Co Ltd issued an announcement on Wednesday saying it had 62.54 billion yuan ($9.8 billion) in revenue in the first half of 2012. The figure was highest among those reported by all developers in China, according to a recent sales report.

In June alone, the developer had 13.32 billion yuan in revenue, up 24.25 percent from May.

Each of the four leading Chinese real estate developers had more than 10 billion yuan in revenue in May and June, showing that the market is warming up after undergoing a year of gloom, according to a report named 2012 Half-Year Estate Developers Sales Top 50, which was released by China Real Estate Information Corp and China Real Estate Appraisal Center on Monday.

The four companies are Poly Real Estate Group Co Ltd, China Vanke Co Ltd, Evergrande RealEstate Group Ltd and China Overseas Holdings Ltd.

The Sales Top 50 report said 21 developers among the top Chinese 50 developers measured by revenues saw a year-on-year sales increase, suggesting developers have adapted new tactics to push up sales by lowering prices.

Sales records showed that in the first half of 2012, the top 10 Chinese developers held a 16.17 percent share of the market, and each of the top 10 developers has more than 17.4 billion yuan in revenue, the report said.