China Overseas Land and Investment Ltd announced that the property sales in September amounted to HK$1.96 billion and the total GFA of property sold reached 221,000 square meters, representing an increase of 73.1% and 60.6% respectively from figures in August 2008. From January to September 2008, the total sales of properties amounted to HK$20.83 billion, an increase of 35.8% as compared to the corresponding period of last year; and the total GFA sold amounted to 2 million square meters, representing an increase of 26.5% as compared to the same period of last year.
The real estate business in Bohai Rim Region and Western Region continued to maintain the strongest growth from January to September in mainland China. Sales revenue and total GFA sold in Bohai Rim Region amounted to HK$4.82 billion and 522,300 square meters, an increase of 175.5% and 132.3% respectively as compared to the same period of year 2007. Sales revenue and GFA sold in Western Region amounted to HK$4.35 billion and 566,400 square meters, an increase of 56.5% and 48.1% respectively as compared to same period of year 2007.
The Company’s property sales for the first nine months of 2008 outperforms the same period of last year, and it meets also the Company’s sales plan as set at the beginning of the year.
The Company added a total of 2.8 million square meters new land reserve as of today in 2008. Currently, the Company has a total land reserve of 25.27 million square meters, which is sufficient to meet the requirement of the Company’s development in the coming 4 -5 years.
Note: Due to the uncertainties that may occur during sales and investment activities, discrepancy may arise between the above figures and those disclosed in the company’s regular financial reports. The above figures are for reference only.
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