(8 November 2012) China Overseas Land and Investment Ltd (“COLI” or the “Company”, stock code: 00688.HK) announced that the property sales in October amounted to HK$8.8 billion and the GFA sold reached 602,300 square meters, representing a YOY growth of 29.8% and 7.8% respectively. From January to October 2012, the total property sales amounted to HK$100.7 billion and the total GFA sold reached 6.5 million square meters, representing a YOY growth of 28.9% and 30.8% respectively. The Company exceeded the new sales target this year in advance.
In October, the Pearl River Delta Region realized the strongest property sales – its total sales revenue amounted to HK$2.0 billion, while the Bohai Rim Region realized the strongest GFA sold – its total GFA sold amounted to 143,200 square meters. The Northern Region realized the strongest percentage growth in both property sales and GFA sold – its total sales revenue amounted to HK$1.1 billion, representing a YOY growth of 64.8%, and its total GFA sold amounted to 112,800 square meters, representing an increase of 58.9% as compared to the same period of last year.
In October, the Company acquired 3 new projects in Dalian, Hangzhou and Shenyang with an attributable GFA of 741,420 square meters. The total land premium payable was RMB6.4 billion. Besides, China Overseas Grand Oceans Group Ltd. (stock code: 00081.HK) acquired 1 new project in Nantong in October with an attributable GFA of 762,437 square meters. The land premium payable was RMB868.6 million. The Company has acquired a total new land amounting to 5.9 million square meters and the attributable portion was 5.6 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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