(9 November 2011) China Overseas Land and Investment Ltd (“COLI” or the “Company”, stock code: 00688.HK) announced that the total property sales, from January to October 2011, amounted to HK$78.1 billion and the total GFA sold reached 4.95 million square meters, representing an increase of 46.4% and 17.7% respectively as compared to the same period of last year. The property sales in October amounted to HK$6.76 billion and the GFA sold reached 559,000 square meters, representing an increase of 2.4% and 13.7% respectively from those in September 2011. As at 30 October 2011, the Company has achieved 97.6% of the sales target, basically fulfilling its full-year sales goal this year.
In October, the Bohai Rim (Beijing City, Tianjin City and Jinan City) realized both the strongest property sales and recorded the strongest GFA sold – its sales revenue amounted to HK$1.97 billion, an increase of 17.87% as compared to the same period of year 2010; while its total GFA sold amounted to 167,700 square meters, recorded the strongest percentage growth with Y-o-Y increase of 97.99%. The Western Region (Chengdu City, Chongqing City and Xi’an City) achieved the strongest percentage growth in the sales value, with an increase of 37.55% as compared to the same period last year.
The Company had no new project acquired in October. Currently, the Company acquired a total new land amounting to 9.8 million square meters and the attributable portion was 9.7 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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