Revenue for the property units sold and recognised contributed to approximately 69% of total group revenue, which was mainly attributable to the sale of Uptown@Roseville in 3Q. The property’s location in Sydney, Australia, helped to boost overall average selling price (ASP) to RMB21,888 per sq m from RMB8,760 per sqm in 3Q16.
SINGAPORE (Nov 13): Property developer CWG International saw 3Q losses narrow to RMB25 million ($5 million) from RMB53.3 million a year ago on a surge in revenue over the quarter.
Revenue grew 63% to RMB193 million ($39.6 million) from RMB118.1 million a year ago, primarily due to an increase in the number of property units in Australia handed over to customers.
