Property developer Tahoe Group posts nearly 19 percent jump in H1 profit to US$140 million

SHENZHEN-LISTED Tahoe Group, a Fujian-based major real estate developer, said net profit attributable to shareholders rose 18.7 percent to 920 million yuan (US$140 million) in the first six months of this year amid robust property sales.

Revenue for the developer, which is well known for its high-end Cathay Courtyard residential projects in some Chinese cities, jumped 34.9 percent in the first half year on year to 8.927 billion yuan, according to a latest statement by the company. Tahoe also added more than 3 million square meters of gross floor area to its national land reserves between January and June, the statement added.