Longfor Properties First Eight Month Contract Sales Exceed RMB15 Billion(34072)

Longfor Properties First Eight Month Contract Sales Exceed RMB15 Billion

Delivers Stable Growth for Three Consecutive Months Hong Kong, 6 September 2010 Longfor Properties Co Ltd (Stock Code in HKEx: 960) announced today its contract sales for the eight months ended 31 August 2010 were up 30.6% year-on-year to RMB15.03 billion. The Group posted business growth in three regional areas, with contract sales reaching RMB6.35 billion in central and western regions, RMB6.72 billion in the Pan Bohai region and RMB1.96 in the Yangtze River Delta region. Longfor Properties was able to achieve stable growth in the three months to August despite the introduction of new measures this April targeting China s property market. Contract sales in the months of June, July and August grew to RMB1.88 billion, RMB1.94 billion and RMB2.6billion, respectively, representing month-on-month increases of 21.3%, 3.2% and34%. Chongqing Longfor delivered its best ever performance in August with both deposits and contract sales breaching the RMB1 billion mark. At the launch of its new development in Xinpaifang, Longfor Hometown , all of the project s 254 low-rise garden apartments were sold within the first 90 minutes, netting more than RMB 400 million in sales. Chengdu Longfor also brought in similarly strong performance with contract sales surging 132% month-on-month to RMB 440 million. The upscale Longfor Century , located in the heart of Chengdu s salubrious district, paves the way for a business model that successfully integrates the Group s nationwide marketing capability and its resources in different regions. Drawing from the strength of its brand and its reputation for quality, the Group was able to achieve satisfactory performance in new markets. On the heels of the successful release of Wuxi Rose and Ginkgo Villa in May, the Group launched Shenyang Rose and Ginkgo Villa (Phase 1) on 15 August to overwhelming response. Thanks to the strong profile of the Rose and Ginkgo brand, known for its unique design and craftsmanship, the Shenyang project sold 62 units on the first day of sales, a number that equals to almost all villa units sold in the city in that few months combined. Longfor Properties recorded contract sales of RMB10.49 billion in first six months of this year, or 42% of the full year target of RMB24.8 billion. As at the end of August, the Group had accomplished 61% of the target. Mr. Qin Lihong, Executive Director of Longfor Properties, said, As more properties are release on to the market in the second half of the year the solid improvement in sales so far was in line with the Group s projections. The steady growth in contract sales in the last three months is a sign that our strategy of selected regional focus, multiple products is beginning to produce results for the Group. Our strengths are our products and services. Only by protecting and enhancing that reputation will we be able to grow stronger in a marketplace where change is the only constant.

Delivers Stable Growth for Three Consecutive Months

Hong Kong, 6 September 2010 Longfor Properties Co Ltd (Stock Code in HKEx: 960) announced today its contract sales for the eight months ended 31 August 2010 were up 30.6% year-on-year to RMB15.03 billion. The Group posted business growth in three regional areas, with contract sales reaching RMB6.35 billion in central and western regions, RMB6.72 billion in the Pan Bohai region and RMB1.96 in the Yangtze River Delta region.

Longfor Properties was able to achieve stable growth in the three months to August despite the introduction of new measures this April targeting China s property market. Contract sales in the months of June, July and August grew to RMB1.88 billion, RMB1.94 billion and RMB2.6billion, respectively, representing month-on-month increases of 21.3%, 3.2% and34%.

Chongqing Longfor delivered its best ever performance in August with both deposits and contract sales breaching the RMB1 billion mark. At the launch of its new development in Xinpaifang, Longfor Hometown , all of the project s 254 low-rise garden apartments were sold within the first 90 minutes, netting more than RMB 400 million in sales.

Chengdu Longfor also brought in similarly strong performance with contract sales surging 132% month-on-month to RMB 440 million. The upscale Longfor Century , located in the heart of Chengdu s salubrious district, paves the way for a business model that successfully integrates the Group s nationwide marketing capability and its resources in different regions.

Drawing from the strength of its brand and its reputation for quality, the Group was able to achieve satisfactory performance in new markets. On the heels of the successful release of Wuxi Rose and Ginkgo Villa in May, the Group launched Shenyang Rose and Ginkgo Villa (Phase 1) on 15 August to overwhelming response. Thanks to the strong profile of the Rose and Ginkgo brand, known for its unique design and craftsmanship, the Shenyang project sold 62 units on the first day of sales, a number that equals to almost all villa units sold in the city in that few months combined.

Longfor Properties recorded contract sales of RMB10.49 billion in first six months of this year, or 42% of the full year target of RMB24.8 billion. As at the end of August, the Group had accomplished 61% of the target. Mr. Qin Lihong, Executive Director of Longfor Properties, said, As more properties are release on to the market in the second half of the year the solid improvement in sales so far was in line with the Group s projections.

The steady growth in contract sales in the last three months is a sign that our strategy of selected regional focus, multiple products is beginning to produce results for the Group. Our strengths are our products and services. Only by protecting and enhancing that reputation will we be able to grow stronger in a marketplace where change is the only constant.

Longfor Properties First Eight Month Contract Sales Exceed RMB15 Billion

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