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Fantasia Holdings reports 80% surge in 2011 property sales

Jan. 6, 2012 (China Knowledge) - Fantasia Holdings Group Co Ltd<1777>, a Chinese real estate developer, announced yesterday that its property sales soared 80% year on year to RMB 7.01 billion in 2011.

The sales last year were 17% more than the firm's target of RMB 6 billion for the year.

The company said in a statement that it sold 746,104 square meters of properties in 2011, reflecting a robust growth of 95% year on year.

In the month of December, the company's property sales grew 11% month on month to RMB 511 million, and its sales area jumped 21% from November to 59,837 sq m.

Last month, the Hong Kong-listed developer reached an agreement with the world's top management group Starwood Hotels and Resorts to introduce Four Points Sheraton Hotel in an urban complex in Guilin of the Guangxi Zhuang Autonomous Region.

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