LISTED property developer Shang Properties Inc. posted a 31.1-percent decline in consolidated net income for the first three months of the year to P528.9 million from P762.2 million a year ago due to weaker condominium sales.
In a financial report to the Philippine Stock Exchange, Shang Properties said condominium sales in the first quarter fell to P1.16 billion from P1.5 billion posted in the previous year.
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