Oct 30(Reuters) - Otis cut its annual sales

forecast and marginally missed third-quarter estimates on

Wednesday, as the elevator maker navigates a challenging Chinese

property market.

Weak construction activity in North America and Europe and

pressure on China's real estate activity continued to impact the

elevator maker's new equipment sales during the quarter.

Otis now expects its annual sales to be about $14.2 billion,

below its prior expectation of between $14.3 billion and $14.5

billion.

It also forecast its annual adjusted profit to be around

$3.85 per share, which is the lower end of its prior outlook.

Quarterly net sales in Otis' new equipment segment fell

nearly 9% from a year earlier to $1.3 billion.

The Farmington, Connecticut-based company posted quarterly

adjusted profit of 96 cents per share, compared with analysts'

estimates of 97 cents per share, according to LSEG-compiled

data.

Total net sales for the quarter ended Sept. 30 fell to $3.55

billion, compared with estimates of $3.59 billion.