Jan. 12, 2012 (China Knowledge) - Yuexiu Property Co Ltd<0123
>, formerly known as Guangzhou
Investment Co Ltd, has posted RMB 1.7 billion-contracted sales for December 2011, reflecting a year-on-year jump of 128% or a sequential increase of 109%.
Last month, the Hong Kong-listed
firm's contracted sales area skyrocketed 268.6% year on year or 291.6% month on month to 168,800 square meters.
In the whole year of 2011, the company's contracted sales totaled RMB 9.05 billion, up 2.2% from two years ago, and its contracted sales area grew 12% from 2010 to 608,400 sq m. The property developer previously planned to sell more than 540,000 sq m of properties for a total of RMB 9 billion last year.
Most of the total sales were derived from commercial property sales exceeding RMB 4.5 billion, especially in Yuexiu Property's headquarters Guangzhou
, capital of Guangdong
Yuexiu Property's parent company, Yuexiu Group, also the owner of both GZI Transport Ltd<1052
> and GZI Real Estate Investment Trust<0405
>, has announced plans to issue HK$1 billion worth of eight-year corporate bonds with a coupon rate of 6.4% to selected subscriber China Life Insurance Co Ltd<601628