Releasing its unaudited operation information for the year through December 2011, Shimao Property (HKG:0813) said its contract sales of real estate properties amounted to RMB30.7 billion - up 0.65% compared to RMB30.5 billion for 2010 but missing the target of RMB36 billion. By area, the sales totalled 2.39 million square metres - a year-on-year reduction of 5.53%.

The company's average selling price was RMB12,845 per square metre for 2011 - up from RMB12,054 per square metre for 2010.

In December 2011, the company's contract sales amounted to RMB2.242 billion, or 179,563 square metres by area.