Mainland developer Shimao Property Holdings expects to record sales of 17 billion yuan (HK$19.3bn) this year, up 13% from its previous target, saying it believes the domestic real estate market has bottomed out and buyers are returning to the market for discounted prices.

'We set this year's target at 15 billion yuan but we are confident that the figure will eventually top 17 billion yuan,' vice-chairman Jason Hui Sai-tan told a press conference over the weekend.

South China Morning Post