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Glorious Property's sales nearly double in Apr

May. 4, 2012 (China Knowledge) - Glorious Property Holdings Ltd<0845>, which mainly operates real estate business in the Yangtze River Delta, yesterday said it reaped RMB 1.11 billion in sales revenue last month, reflecting a sequential increase of 98.3%.

In a statement filed with the Hong Kong Stock Exchange, the company said it sold approximately 91,000 square meters of properties in April, up 7.3% month on month.

During the period from January to April 2012, the real estate developer sold 340,000 sq m of properties for RMB 2.72 billion in total, of which RMB 660 million was derived from sales in Shanghai, representing a sequential jump of seven folds.

Glorious Property, currently, has 17.9 million sq m in land reserves of potential floor area.

President Cheng Lixiong has noted that the company aims to earn RMB 13 billion in sales revenue this year, adding that properties in 19 projects, including four new projects, would be sold in 2012.

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