Guangzhou R&F Property Co Ltd<2777> has announced that its contracted sales revenue for October was RMB 2.19 billion, up 78% year on year, and that its sales area for the month grew 53% year on year, hitting 194,500 square meters, sources reported.

In September, the company sold 181,700 sq m of properties in contracts for RMB 2.19 billion.

In the first ten months of this year, the Hong Kong-listed firm's contracted sales revenue was RMB 20.62 billion, up 61% year on year, and it sold a total of 2.04 million sq m of properties, 63% more than in the same period of last year.

"We are fully confident that we will meet the sales target of RMB 23 billion this year," said Chen Zhihao, a representative of the firm.

Reportedly, Guangzhou R&F Property has received approval to issue RMB 5.5 billion in corporate bonds.