Hong Kong-listed property developer Longfor Properties made sales totaling 48.1 billion yuan ($7.76 billion) in 2013, up 20 percent on the same period last year, it said in an e-mail statement on Wednesday.

Holding commercial properties has been a highlight for the company in 2013, with the company’s first shopping mall outside Chongqing, where the company is based, opening for business in December.

The company has 11 shopping malls currently open for business.

The company added 16 new projects in 11 cities in 2013, with a cautious and conservative approach, the statement said.