(8 April 2009) China Overseas Land and Investment Ltd (“COLI” or the “Company”, stock code: 00688) announced that the property sales in March amounted to HK$6.06 billion and the total GFA of property sold reached 625,300 square meters, representing an increase of 43.1% and 71.3% respectively from those in March 2008. The figures also represent an increase of 232.1% and 192.1% respectively from those in February 2009. From January to March 2009, the total sales of properties amounted to HK$9.26 billion, an increase of 51.2% as compared to the corresponding period of last year, and the total GFA sold amounted to 1.0 million square meters, representing an increase of 88.3% as compared to the same period of last year.
By the end of March, the Pearl River Delta Region realized the strongest property sales – its sales revenue and total GFA sold amounted to HK$3,275 million and 356,900 square meters, an increase of 76.0% and 104.5% respectively as compared to the same period of year 2008. The Yangtze River Delta Region recorded strong percentage growth – its sales revenue and total GFA sold amounted to HK$2,538 million and 224,400 square meters, an increase of 96.0% and 134.0% respectively as compared to the same period of year 2008. The Western Region also achieved very strong sales growth.
No new land was acquired in March 2009. Currently, the Company has a total land reserve of 24.8 million square meters, which is sufficient to meet the requirement of the Company’s development in the coming 4 -5 years.
Note: In view of the uncertainties involved in investment and sales process, there may exist discrepancies between the above figures and those disclosed in our regular reports. As such, the above is only for reference purpose.
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