(8 August 2011) China Overseas Land and Investment Ltd (“COLI” or the “Company”, stock code: 00688) announced that the property sales in July amounted to HK$8.1 billion and the GFA sold reached 492,900 square meters, representing an increase of 62.8% and 16.3% respectively from those in July 2010. From January to July 2011, the total property sales amounted to HK$60.3 billion and the total GFA sold reached 3.6 million square meters, representing an increase of 82.4% and 34.7% respectively as compared to the same period of last year.
In July, the Northern Region (Shenyang City, Changchun City, Dalian City, Qingdao City) realized both the strongest property sales and recorded the strongest GFA sold – its sales revenue amounted to HK$2.36 billion, an increase of 61.6% as compared to the same period of year 2010; while its total GFA sold amounted to 217,200 square meters, recorded a Y-o-Y increase of 21.4%. The Bohai Rim (Beijing City, Tianjin City and Jinan City) achieved the strongest percentage growth in both the sales value and GFA sold – its sales revenue amounted to HK$2.24 billion, an increase of 491.0% as compared to the same period of year 2010; while its total GFA sold amounted to 72,000 square meters, an increase of 161.8% as compared to the same period of last year.
In July 2011, the company acquired 1 project in Xiamen with total attributable GFA 200,789.0 square meters. The total land premium payable was RMB1.0 billion. Besides, in July 2011, China Overseas Grand Oceans Group Ltd. (stock code: 00081.HK) acquired 1 new project in Lanzhou with an attributable GFA of 315,522.0 square meters. The land premium payable was RMB570.0 million. The company acquired a total new land amounting to 8.3 million square meters and the attributable portion was 8.3 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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