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Glorious Property's sales up 21.1% in May

Jun. 5, 2012 (China Knowledge) – Glorious Property Holdings Ltd<0845>, which mainly operates real estate business in the Yangtze River Delta, announced yesterday that it realized RMB 1.35 billion in sales revenue last month, reflecting a M-o-M increase of 21.1%.

Last month, the company sold 136,000 square meters of properties, 48.7% more than it realized in April 2012, of which, 95,237 sq m of properties were sold in northeast China region, skyrocketed 310% MoM.

Property sales in Shanghai, Yangtze River Delta and Bohai Economic Rim reached 9,487 sq m, 23,614 sq m and 7,376 sq m, respectively.

For the first five month period, the real estate developer sold a total of 476,000 sq m of properties, decreased 7.6% YoY, and its sales revenue for the period dropped 20.1% YoY to RMB 4.07 billion.

As of May 31, 2012,Glorious Property has 17.9 million sq m in land reserves of potential floor area.

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