(9 March 2011) China Overseas Land and Investment Ltd (“COLI” or “the Company”, Stock Code: 00688) announced that the property sales in February amounted to HK$4.2 billion and the total GFA of property sold reached 279,000 square meters, representing an increase of 52.9% and 51.1% respectively from those in February 2010. From January to February 2011, the total property sales amounted to HK$12.0 billion and the total GFA sold reached 816,000 square meters, representing an increase of 74.6% and 60.1% respectively as compared to the same period of last year.
In February, 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$1.4 billion. The Pearl River Delta Region (Shenzhen City, Zhongshan City, Guangzhou City, Foshan City and Zhuhai City) realized the strongest percentage growth in property sales and GFA sold – its sales revenue amounted to HK$1.1 billion and the total GFA of property sold reached 73,300 square meters, representing an increase of 203.9% and 302.8% respectively as compared to the same period of year 2010. Other Regions also achieved very strong sales growth.
The company acquired two new projects in Qingdao City and Dalian City in February with a total attributable GFA of 1.8 million square meters. The land premium payable was 4.2 billion yuan. On 1 March, the company acquired one new project in Nanchang City with a total attributable GFA of 457,195 square meters. The land premium payable was 1.4 billion yuan. The company acquired a total new land amounting to 5.0 million square meters and the attributable portion was 5.0 million square meters so far this year.
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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