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Country Garden's property sales up 31% in 2011

Jan. 10, 2012 (China Knowledge) - Country Garden Holdings Co Ltd<2007>, which is principally engaged in property business in Guangzhou and Foshan, Guangdong Province, has posted RMB 43.2 billion-contracted sales for 2011, 31% more than that in 2010.

The sales exceeded the Hong Kong-listed firm's annual target of RMB 43 billion.

Contracted sales area grew 15% from two years earlier to 6.87 million square meters last year.

In 2011, the real estate developer's sales price increased 15% year on year from RMB 6,000 per sq m to RMB 6,288 per sq m, more than RMB 5,483 per sq m in 2010.

Country Garden started 16 new property projects last year, in which ten projects are located in Guangdong Province.

On December 23, Country Garden set up a joint venture in Malaysia to tap the country's property market, which is also the company's first overseas project, sources reported.

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