From the Wires
Evergrande October Sales Total RMB14.26 Billion; Annual Plan Completion Rate at 91%
By: PR Newswire
Nov. 6, 2012 09:10 PM
BEIJING, Nov. 6, 2012 /PRNewswire/ -- With the continuous development of macro control policies in China the real estate investment market is continuing its downward trend. Rigid demands have been greatly eased and are the topic du jour of investors. Evergrande Real Estate (3333.HK), which insists on a democratic development strategy, has been awarded the "double championship" in sales and selling areas in October, continuing to take the lead in the real estate market in China. An original report by Sina Leju follows:
According to a sales presentation published on 6 November by Evergrande Real Estate, the contractual sales amount achieved by Evergrande in October accounted for RMB14.26 billion, a 65.6% growth year-on-year in October and 75.6% growth on a month-on-month basis. This has broken the record of monthly sales in the history of the Group and has surpassed Vanke (RMB13.7 billion), ranking first in China. It has achieved contractual sales for up to 2.55 million square meters, representing year-on-year growth of 82.4% and month-on-month growth of 75%, ranking it first in China for seven successive months.
This year Evergrande has displayed mastery of market trends with powerful second quarter sales objectives, constant monthly supplies of goods and with overall sales maintaining the trend of steady growth. In both the second and third quarters the Company fulfilled one third of its annual plan by aiming at the intensively released rigid markets and prime seasons of sales during "Gold September" and "Silver October". The Company has controlled its sales rhythm scientifically and adjusted the number of launch of goods reasonably, with its high performance-to-price ratio continually accepted by the market. October's sales performance established a new monthly sales record, exceeding that of May this year RMB10.37 billion by 37.5%. October sales accounted for more than 18% of the whole annual targets.
According to analysts, in the today's macro control environment, Evergrande's strategic layout and product orientation is tailored for current markets and policies. It has a great market promotion. Moreover, it follows the high turnover mode of rapid development and rapid sales. There are sales of buildings all year round, thus having ensured the continuous growth of its performance so that Evergrande has greater advantages in dealing with market regulation and can meet its annual targets as scheduled.
According to the brief report, in the period between January and October, Evergrande has achieved a total sales income of up to RMB72.83 billion accounting for 91% of the annual target of RMB80 billion. The total sales area was 12.282 million square meters, ranking first place in China. In October, Evergrande developed as many as 4 new building projects, with up to 168 projects for sale, accounting for 77% of the total number of projects in the Group.
Insiders state that with the continuous easing of market restrictions, as well as the top quality and ample supply reserves, Evergrande will be expected to meet its annual sales target of RMB80 billion one month early and will beat the target. Once again, the Company has achieved the commitments made by Hui Ka Yan, chairman of the Board of Directors, as "All plans made by Evergrande must be overfulfilled ahead of schedule."
SOURCE Sina Leju
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