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Guangzhou R&F Properties' revenue doubles in Feb

Mar. 6, 2012 (China Knowledge) - Guangzhou R&F Properties Co Ltd<2777>, a real estate developer based in Guangzhou and Foshan of Guangdong Province, reaped RMB 2.4 billion in sales revenue last month, nearly doubled its sales revenue of RMB 1.23 billion realized in January.

Sales area for February surged 156% month on month from 87,800 sq m to 224,700 sq m.

In the first two months of this year, the company sold 312,500 sq m of properties for a total of RMB 3.63 billion, reflecting a year-on-year increase of 33% but a decline of 6%, respectively.

Guangzhou contributed the most sales with revenue reaching RMB 707 million last month, more than 616 million in January. In February, sales revenue in Beijing and Tianjin reached RMB 490 million and RMB 380 million, jumping 220% and 124% year on year, respectively.

Sales revenue for last month was RMB 235 million in Chongqing, RMB 162 million in Xian, RMB 143 million in Taiyuan and RMB 112 million in Shanghai, sources reported.

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