Brazilian property developer reports strong sales
Date added: 20th July, 2011 at 10:23
(view all articles from July, 2011)
Categories: Property News
Brazilian property developer Rossi Residencial reported on Monday (July 18th) that contracted sales hit 2.1 billion reais (£834 million) in the first half of 2011.
This represents a 20 per cent jump compared with the 1.7 billion reais recorded in the same period in 2010.
Furthermore, launches were reported to have reached a record high of 1.3 billion reais in the second quarter of the year, a 67 per cent yearly rise.
Meanwhile, contracted sales in the three months to the end of June increased by 24 per cent compared with the same period in 2010 to 882 million reais.
Analyst at BTG Marcello Milman was quoted by Bloomberg as saying the company "was able to increase launches significantly maintaining good sales performance".
The news provider reported that the results saw real estate companies on Brazil's stock index the Bovespa rise, with Rossi up 2.2 per cent at 16:15 New York time yesterday.
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