[Guangzhou Daily ] Evergrande earned 200 million every day in July

Guangzhou Daily 2010-8-10 Zhang Zhong an

Focused on the layout in the second- and third-tier cities, and becoming the first enterprise to adjust the market sales strategy, Evergrande Real Estate, according to the latest data, exceeded the sales of 5 billion yuan for the first time in July with a growth of 6% on month-on-month basis. This is also the only listed real estate enterprise having a growth on month -on-month basis for the consecutive 6 months in terms of sales so far (February excluded).

According to the data released by Evergrande in Hong Kong Stock Exchange today, the Company achieved the contracted sales of 5.08 billion yuan in July 2010, increasing by 172.4 % compared with that in the same period of 2009 which was 1.87 billion yuan, and the growth on month -on- month basis was 5.9% compared with that of 4.8 billion yuan in June, setting another single-month sales record since 2010; the contracted sales area was 861,000 square meters, increasing by 124.3% over the same period of the previous year, with a growth of 6.9% on month -on- month basis.

In the first seven months this year, the Company achieved the total contracted sales of 26.06 billion yuan, increasing by 115.3% compared with that in the same period of 2009 which was 12.1 billion yuan; the contracted sales area was 4,200, 000 square meters, increasing by 65.2% year on year. And the average sales price reached 6204 yuan persquare meter, with a growth exceeding 30% over the same period of the previous year.

According to the analysts, the good performance in terms of sales of Evergrande Real Estate was mainly benefited from the fact that the second- and third-tier cities were less affected by the adjusting control.

In addition, the data also showed that the developers were accelerating the development speed. According to the data from the National Bureau of Statistics, in the first half year, the real estate development enterprises in China basically kept a rising trend on the complementation of investment growth, and the growths from February to June were 31.

2%, 35.1%, 36.2%, 38.2% and 38.1% respectively. The development periods of some real estate enterprises were also obviously shortened. For example, Evergrande Real Estate took 5 months in total from land acquisition to launching for Jinan Project, and took 6 months in total from land acquisition to launching for Tianjin Project, while Chengdu Evergrande Landscape City also only took 5 months from land acquisition to launching.