(8 April 2011) China Overseas Land and Investment Ltd (“COLI” or “the Company”, Stock Code: 00688) announced that the property sales in March amounted to HK$7.8 billion and the total GFA of property sold reached 581,200 square meters, representing an increase of 13.2% and 19.7% respectively from those in March 2010. From January to March 2011, the total property sales amounted to HK$19.8 billion and the total GFA sold reached 1.4 million square meters, representing an increase of 44.0% and 40.4% respectively as compared to the same period of last year.
In March, the pan-Bohai Rim (Beijing City, Tianjin City and Jinan City) realized the strongest property sales – its sales revenue and total GFA sold amounted to HK$2.8 billion and 190,500 square meters, representing an increase of 54.4% and 64.0% respectively as compared to the same period of year 2010. Other Regions also achieved very strong sales growth.
The company acquired one new project, through China Overseas Grand Oceans Group Ltd. (Stock Code: 00081), in Hohhot in March with an attributable GFA of 214,002 square meters. The land premium payable was 420.0 million yuan. The company acquired a total new land amounting to 5.3 million square meters and the attributable portion was 5.3 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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