(9 September 2011) China Overseas Land and Investment Ltd (“COLI” or the “Company”, stock code: 00688.HK) announced that the property sales in August amounted to HK$4.4 billion and the GFA sold reached 331,600.0 square meters, representing a decrease of 11.2% and 12.9% respectively from those in August 2010. From January to August 2011, the total property sales amounted to HK$64.7 billion and the total GFA sold reached 3.9 million square meters, representing an increase of 70.1% and 28.7% respectively as compared to the same period of last year.
In August, 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$1.697 billion, an increase of 24.96% as compared to the same period of year 2010; while its total GFA sold amounted to 158,100 square meters, recorded a Y-o-Y decrease of 1.68%. The Western Region (Chengdu City, Chongqing City and Xi’an City) achieved the strongest percentage growth in both the sales value and GFA sold – its sales revenue amounted to HK$676 million, an increase of 45.38% as compared to the same period of year 2010; while its total GFA sold amounted to 60,000 square meters, an increase of 30.15% as compared to the same period of last year.
In August 2011, the Company acquired 2 new projects in Guangzhou and Xi’an with total attributable GFA 497,778.3 square meters and 376,100.0 square meters respectively. The total land premium payable was RMB2.1 billion. Besides, in September 2011, China Overseas Grand Oceans Group Ltd. (stock code: 00081.HK) acquired 1 new project in Lanzhou with an attributable GFA of 70,210.0 square meters. The land premium payable was RMB139.5 million. The Company acquired a total new land amounting to 9.3 million square meters and the attributable portion was 9.2 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.
Related news
