(7 July 2011) China Overseas Land and Investment Ltd (“COLI” or the “Company”, stock code: 00688) announced that the property sales in June amounted to HK$12.1 billion and the GFA sold reached 635,300 square meters, representing an increase of 100.8% and 52.2% respectively from those in June 2010. From January to June 2011, the total property sales amounted to HK$52.2 billion and the total GFA sold reached 3.1 million square meters, representing an increase of 85.9% and 38.2% respectively as compared to the same period of last year.
In June, the Yangtze River Delta Region (Shanghai City, Ningbo City, Suzhou City, Hangzhou City and Nanjing City) realized both the strongest property sales and recorded the strongest GFA sold – its sales revenue amounted to HK$5.175 billion, an increase of 109.6% as compared to the same period of year 2010; while its total GFA sold amounted to 198,800 square meters, recorded a Y-o-Y increase of 107.08%. The Northern Region (Shenyang City, Changchun City, Dalian City, Qingdao City) achieved the strongest percentage growth in GFA sold – its total GFA sold amounted to 185,000 square meters, an increase of 218.97% as compared to the same period of last year.
In June 2011, the company acquired 2 projects in Suzhou and Nanjing with total attributable GFA 923,716.0 square meters. The total land premium payable was RMB2.8 billion. On 30 May 2011, China Overseas Grand Oceans Group Ltd. (stock code: 00081.HK) acquired 1 new project in Nanning with an attributable GFA of 183,096.0 square meters. The land premium payable was RMB414.0 million. The company acquired a total new land amounting to 7.8 million square meters and the attributable portion was 7.8 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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