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Guangzhou R&F Properties' sales up 15% in May

Jun. 4, 2012 (China Knowledge) - Guangzhou R&F Properties Co Ltd<2777>, a real estate developer based in Guangzhou and Foshan of Guangdong Province, has posted RMB 2.34 billion-sale revenue for last month, reflecting a YoY increase of 15%, sources reported.

Of the total sales, RMB 644 million was contributed by sales in the firm's headquarters Guangzhou, RMB 506 million in Beijing and RMB 418 million in Tianjin.

Sales area for May grew by 3% from a year earlier to around 195,800 square meters.

In the first five months of 2012, the Hong Kong-listed firm's sales revenue totaled about RMB 11.87 billion, up 9% YoY, and its sales area increased by 35% from a year earlier to 947,900 sq m.

Last month, the real estate developer acquired three pieces of land in Langfang, Hebei Province in an auction for a combined consideration of RMB 176 million. On the three sites, totaling 15.69 hectares in land area, residential properties will be built.

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