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China Aoyuan Property wins land bid in Chongqing

Feb. 2, 2012 (China Knowledge) - China Aoyuan Property Group Ltd<3883>, a Guangdong-based residential real estate developer, has acquired a piece of land in Jiulongpo District, Chongqing at a consideration of RMB 218 million.

The mixed-use plot, which cost RMB 2,400 per square meter of potential floor area, covers an area of 18,500 sq m. On the site, around 91,000 sq m of residential and commercial properties would be built near the firm's another project, named Aoyuan Healthy City.

In 2011, the Hong Kong-listed property developer reaped RMB 5.02 billion in contracted sales, increasing 4.5% from a year earlier or accounting for 91% of its annual target of RMB 5.5 billion. Contracted sales area for last year grew nearly 25% from a year earlier to 550,100 sq m.

Average price stood at RMB 9,100 per sq m in 2011, 17% less than RMB 10,900 per sq m in 2010. China Aoyuan Property said more commercial properties will be launched in the future.

According to the company's website, the property developer's projects are principally located in Shenyang, Beijing, Chongqing, the Guangxi Zhuang Autonomous Region and Jiangxi Province.

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