HONG KONG, June 5 (Reuters) - Chinese real estate developer Beijing Capital Land <2868.HK> said on Friday that revenues from apartment sales in the first five months soared 210 percent from a year ago, as market demand remained strong on improved outlook for the mainland property sector.
The firm sold about 3.86 billion yuan ($564.9 million) worth of flats in the first five months, with the contracted sales area surging 300 percent from a year ago to 422,000 square metres, according to a newsletter from the developer.
The developer said its contracted sales in the month of May were at historical high of 1.31 billion yuan, thanks to the launch of more new projects, despite an 8.8 percent month-on-month drop in transaction volumes in Beijing and a 16 percent month-on-month fall in Tianjin.
Beijing Capital Land had earlier this year set an ambitious sales target of 6 billion yuan for 2009.
The company shares rose 2.5 percent to HK$3.25 in mid-morning trade on Friday, outperforming a 0.30 percent rise in the broader market <.HSI>. (US$1=HK$7.8=6.833 yuan