(11 October 2010) China Overseas Land and Investment Ltd (“COLI” or “the Company”, Stock Code: 00688) announced that the property sales in September amounted to HK$8.1 billion and the total GFA of property sold reached 566,300 square meters, representing an increase of 78.6% and 46.1% respectively from those in September 2009. From January to September 2010, the total property sales amounted to HK$46.1 billion and the total GFA sold reached 3.6 million square meters, representing an increase of 19.8% and a decrease of 10.2% respectively as compared to the same period of last year.
By the end of September, the Yangtze River Delta Region (Shanghai City, Ningbo City, Suzhou City, Hangzhou City and Nanjing City) realized the strongest property sales – its sales revenue amounted to HK$11.4 billion, an increase of 15.6% as compared to the same period of year 2009. The pan-Bohai Rim (Beijing City, Tianjin City and Jinan City) recorded the strongest percentage growth in property sales – its sales revenue amounted to HK$6.7 billion, an increase of 57.7% as compared to the same period of year 2009. The Northern Region (Shenyang City, Changchun City, Dalian City, Qingdao City) achieved the strongest in both GFA sold and percentage growth in GFA sold – its total GFA sold amounted to 1.0 million square meters, an increase of 31.3% as compared to the same period of last year.
No new land was acquired in September. Currently, the Company has a total land reserve of 35.0 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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