China Overseas Land and Investment Ltd, China's largest developer by market value, aims to record 20 percent growth in net profit this year, its chairman said on Friday.
However, growth in the doemestic real estate sector was expected to slow, Kong Qingping told Reuters on the sidelines of an industry event.
In 2010, China Overseas Land posted a 40.4 percent jump inproperty sales to HK$67.1 billion ($8.64 billion), while total gross floor area sold rose 11.2 percent to 5.3 million square metres, it said earlier this year.
Shares of the developer, which realised its strongest sales in first-tier cities such as Shanghai, Suzhou and Hangzhou last year, have lost 10 percent since the beginning of the year.
The stock is hovering at a 2- year low because of worries over more tightening to curb the red-hot property sector.
