Longfor Properties 2010 Annual Contract Sales Reached RMB33.32 billion(34063)

Longfor Properties 2010 Annual Contract Sales Reached RMB33.32 billion

Hong Kong, 7 January 2010 Longfor Properties Co. Ltd. ( Longfor Properties or the Group , SEHK Stock Code: 960), a leading property developer in China, is pleased to announce that it had achieved contract sales of RMB5.59 billion for the month of December. That takes the Group s total contract sold area for the 12 months ended 30 December 2010 to 2.454 million m2, an increase of 30.3% from last year. Total contract sales reached RMB33.32 billion, an increase of 81% from the previous year, or more than 34.4% of the Group s full year sales target of RMB24.8 billion. During the period, the Central-Western region contributed about RMB13.44 billion in contract sales, Pan Bohai region RMB11.81 billion and Yangtze River Delta RMB8.07 billion. Following the sales launches of new projects in cities such as Changzhou and Chongqing, together with a significant increase in contract sales at the end of 2010, contract sales for the month reached RMB5.59 billion, representing a 38% increase from the previous month and making it the strongest month in 2010. On 19 December, the Company s second project in Changzhou, Original Courtyard, was officially launched. All but one of the 114 units were sold on the first day of sales, generating total contract sales of RMB870 million and exceeding all of the sales combined for individual projects above the RMB7 million mark sold in the past 3 years in Changzhou. Another project in Chongqing was also well-received by the market. On 26 December, Chongqing Longfor Times Paradise Walk, Longfor s first project in the Yuzhong District of Chongqing with an area of over 1 million m2, was launched. It was an important strategic step for Longfor s foray in commercial developments. The project has a commercial area of 650,000 m2, which is rare for developments of its kind in the city. The Group also launched two innovative standalone shopping complexes. On the first day of launch, 718 units were sold and total contract sales of RMB470 million were generated, making this project No. 1 in terms of units sold, contract sales and contract sold area on first-day sales. 2010, Longfor has achieved sound development in Central-Western region, Pan Bohai region and Yangtze River Delta. The business value of each of the three regions to the Company is estimated to worth more than RMB10 billion. Among them, Beijing Longfor was the first company to record contract sales of over RMB10 billion, with annual total contract sales of RMB10.02 billion, the second-highest in the local market. Chongqing Longfor recorded contract sales of over RMB9 billion, making it the top performer of Chongqing for the fifth consecutive years. Chengdu Longfor recorded significant sales growth in the fourth quarter thanks to its innovative sales strategy. The operation achieved total annual contract sales of RMB4.51 billion, making it one of the top three performers in the local market. In the Yangtze River Delta, Longfor entered Wuxi and Changzhou in 2010 and achieved contract sales of RMB1.9 billion and RMB2.0 billion, respectively, ranking them No. 2 and No. 3 in the local market. Mr. Qin Lihong, Executive Director of Longfor Properties, said, The Group exceeded its sales target by more than 30%. The good result was attributable to the outstanding performance of the 5 newly entered cities. Among the 10 cities with projects currently on sale, we were among the top 3 of the local market in 5 cities. It is testament to the success of the Group s Regional focus, multiple products strategy for our new round of development

Hong Kong, 7 January 2010 Longfor Properties Co. Ltd. ( Longfor Properties or the Group , SEHK Stock Code: 960), a leading property developer in China, is pleased to announce that it had achieved contract sales of RMB5.59 billion for the month of December. That takes the Group s total contract sold area for the 12 months ended 30 December 2010 to 2.454 million m2, an increase of 30.3% from last year. Total contract sales reached RMB33.32 billion, an increase of 81% from the previous year, or more than 34.4% of the Group s full year sales target of RMB24.8 billion. During the period, the Central-Western region contributed about RMB13.44 billion in contract sales, Pan Bohai region RMB11.81 billion and Yangtze River Delta RMB8.07 billion.
Following the sales launches of new projects in cities such as Changzhou and Chongqing, together with a significant increase in contract sales at the end of 2010, contract sales for the month reached RMB5.59 billion, representing a 38% increase from the previous month and making it the strongest month in 2010. On 19 December, the Company s second project in Changzhou, Original Courtyard, was officially launched. All but one of the 114 units were sold on the first day of sales, generating total contract sales of RMB870 million and exceeding all of the sales combined for individual projects above the RMB7 million mark sold in the past 3 years in Changzhou.
Another project in Chongqing was also well-received by the market. On 26 December, Chongqing Longfor Times Paradise Walk, Longfor s first project in the Yuzhong District of Chongqing with an area of over 1 million m2, was launched. It was an important strategic step for Longfor s foray in commercial developments. The project has a commercial area of 650,000 m2, which is rare for developments of its kind in the city. The Group also launched two innovative standalone shopping complexes. On the first day of launch, 718 units were sold and total contract sales of RMB470 million were generated, making this project No. 1 in terms of units sold, contract sales and contract sold area on first-day sales.
2010, Longfor has achieved sound development in Central-Western region, Pan Bohai region and Yangtze River Delta. The business value of each of the three regions to the Company is estimated to worth more than RMB10 billion. Among them, Beijing Longfor was the first company to record contract sales of over RMB10 billion, with annual total contract sales of RMB10.02 billion, the second-highest in the local market. Chongqing Longfor recorded contract sales of over RMB9
billion, making it the top performer of Chongqing for the fifth consecutive years. Chengdu Longfor recorded significant sales growth in the fourth quarter thanks to its innovative sales strategy. The operation achieved total annual contract sales of RMB4.51 billion, making it one of the top three performers in the local market. In the Yangtze River Delta, Longfor entered Wuxi and Changzhou in 2010 and achieved contract sales of RMB1.9 billion and RMB2.0 billion, respectively, ranking them No. 2 and No. 3 in the local market.
Mr. Qin Lihong, Executive Director of Longfor Properties, said, The Group exceeded its sales target by more than 30%. The good result was attributable to the outstanding performance of the 5 newly entered cities. Among the 10 cities with projects currently on sale, we were among the top 3 of the local market in 5 cities. It is testament to the success of the Group s Regional focus, multiple products strategy for our new round of development

Longfor Properties 2010 Annual Contract Sales Reached RMB33.32 billion

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