Forte Exceeded 18.3% of Sales Target of Year 2010

Shanghai Forte announced its contracted sales for the month of December on 4 January 2011. The total attributable GFA for Dec. 2010 was approximately 63k sq.m and total amount was approximately RMB 1.07 billion which was a 10% increase YoY.

For the full year of 2010, Forte has achieved accumulated attributable GFA of approximately 1,013k sq.m, and total attributable contracted sales of approximately RMB 13.62 billion, which increased 16% and 59.4% respectively YoY. So far, Forte has exceeded 18.3% of full year target which is RMB 11.5 billion.

Mr. Zhang Hua, Forte Chairman, expressed that the great sales performance during the year was due to sticking to the strategies of not keeping the inventory on hand, coordinating with the market and fastening the sales, and attracting the end of user demand by reasonable price and unique products. Meanwhile, Forte s nationwide expansion strategy also propelled the growth of sales. During the year, in addition to the constant growth in 1st tier cities, the sales contribution from 2nd cities accounts for a huge proportion. From August to October 2010, projects in cities of Chengdu, Xi an, Chongqing and Wuhan had a great sales result and the sales amount in part of these cities were continuously ranked top of the month in local.

As of the end of December, Forte has entered into 13 cities which are Shanghai, Nanjing, Hangzhou, Wuxi, Beijing, Tianjin, Changchun, Dalian, Taiyuan, Chongqing, Chengdu, Wuhan and Xi an, and has accomplished the nationwide strategy layout of super core cities, central cities of the regions and Yangtze Delta.

On the back of the research of the future market trend and long term planning for the corporate development, Forte has recently officially initiated Boutique Product strategy 2011. In this year, Forte will not only dedicatedly devote to the links like product positioning, product planning, and construction etc. to achieve the upgrade of construction quality, but also comprehensively focus on customers demand and experience and providing a set of detailed implementation plan on resource integration and value creation for our customers.

It is said that Forte will fully promote the Boutique Product strategy by introducing refined decoration products, elaborately making residential landscape construction and upgrading customer service. Additionally, Forte will be continuously in response to the nationwide requirement of environmental protection, reducing construction waste and contamination, saving limited construction resource, and leading the construction development toward the direction of taste, quality, intelligence, energy conservation and environmental protection.