(7 May 2010) China Overseas Land and Investment Ltd (“COLI” or the “Company”, stock code:00688) announced that the property sales in April amounted to HK$4.9 billion and the GFA sold reached 393,400 square meters, representing a decrease of 9.2% and 32.0% respectively from those in April 2009. From January to April 2010, the total property sales amounted to HK$18.6billion and the total GFA sold reached 1.39 million square meters, representing an increase of27.2% and a decrease of 12.0% respectively as compared to the same period of last year.
In April, the Western Region (Chengdu City, Chongqing City and Xi’an City) realized the strongest property sales – its sales revenue and total GFA sold amounted to HK$1.63 billion and 165,000square meters, an increase of 87.8% and 31.8% from those in April 2009. The Bohai Rim (BeijingCity, Tianjin City and Jinan City) Regions achieved the strongest sales growth – its sales revenue and total GFA sold realised an increase of 113.4% and 47.1% respectively as compared to the same period of year 2009.
The Company acquired two new projects in Hong Kong and Macau in April with a total attributable GFA of 42,449 square meters. The total land premium payable was HK$1.5 billion. By the end ofApril 2010, the total new land acquisitions amounted to 2.66 million square meters and the attributable portion was 2.31 million square meters. Currently, the Company has a total land reserve of 33.20 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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