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Agile Property wins land bid in Chongqing

May. 9, 2012 (China Knowledge) - Agile Property Holdings Ltd<3383>, a Hong Kong-listed developer of large-scale residential projects, yesterday announced that it has acquired a piece of land in Dadukou, Chongqing at a consideration of RMB 696 million.

The mixed-use plot, which cost RMB 1,999 per square meter of potential floor area, covers an area of 119,287 sq m and will have a floor area of 348,171 sq m.

This is the property developer's second project in Chongqing, following a residential project, named International Garden. The project brought the firm RMB 1.32 billion in contractual sales last year.

In the first quarter of this year, Agile Property earned RMB 6.39 billion in contractual sales, with sales area totaling 522,000 sq m. The average price stood at RMB 12,200 per sq m.

The company intends to launch new properties principally in Zhongshan, Guangzhou, Foshan and Nanjing in the second quarter.

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