Core Insights - In the first nine months of 2025, the total sales of the top 10 projects in 12 key cities in China showed a stable performance, with Shanghai leading significantly [1] - Shanghai's top 10 projects achieved a cumulative sales amount of 963.5 billion yuan, nearly unchanged from 972 billion yuan in the same period of 2024, maintaining a lead over Shenzhen and Hangzhou by over 550 billion yuan [1] - The number of "billion-dollar projects" increased by three in September, all located in Shanghai, bringing the total to four nationwide [1] Sales Performance - Shanghai's top 10 projects: 963.5 billion yuan, compared to Shenzhen's 408.2 billion yuan and Hangzhou's 409.6 billion yuan [1] - Chengdu's top 10 projects reached approximately 286 billion yuan, closely following Guangzhou's 287.7 billion yuan [1] - Other cities like Nanjing, Tianjin, Changsha, and Wuhan did not exceed 200 billion yuan in total sales for their top 10 projects [1] Billion-Dollar Projects - The four "billion-dollar projects" in Shanghai are: - Shanghai Yihua Courtyard: 214.7 billion yuan - Jinling Huating: 133.4 billion yuan - Feiyun Yuefu: 122.7 billion yuan - Qiantan Gongguan: 105.9 billion yuan [1] - A total of 14 projects across the 12 cities exceeded 50 billion yuan in sales, with Shanghai contributing 10 of these projects [1]