China State Construction sees mixed performance in Jan-Nov, property sales dip

China State Construction Engineering Corp. announced a total new contract value of RMB 40.408 bn for January to November 2025, a modest 0.9% increase year-on-year. The architectural business contributed RMB 37.162 bn, rising 1.9%. Within architectural, housing construction increased 3.1% to RMB 24.622 bn, while infrastructure contracts saw a slight decrease of 0.1% to RMB 12.429 bn. Survey and design contracts declined 10.5% to RMB 111 million.

Domestic contracts grew 1.8% to RMB 35.303 bn, and overseas contracts increased 4.4% to RMB 1.858 bn. Housing construction area under development decreased 2.5%, and new housing construction starts saw a decline of 12.7%. However, housing construction completed area increased 11.4%.

The property development segment experienced a downturn, with contract sales decreasing 9.9% to RMB 3.246 bn. Contract sales area also fell 4.1%. The company's ending land reserves stood at 7,190 ten thousand square meters, with new land reserves acquired totaling 831 ten thousand square meters.