Shanghai developer CIFI has targeted sales revenue for the year of 12.5 billion yuan (HK$ 15.39 billion), an increase of 31 per cent from last year.

“We have more than 30 projects available for sale this year, which together are worth 25 billion yuan,” said chief financial officer Albert Yau Sze-ka. “Twelve are new projects.”

CIFI, which was listed in Hong Kong in November last year, presented yesterday its annual report for last year.

It said it launched 28 projects for the year and sold 1.03 million square metres of residential and commercial space.