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Glorious Property's sales up 25.5% in Jul

Aug. 7, 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 1.15 billion in property sales last month, reflecting a YoY increase of 25.5%.

Last month, the company sold 141,000 square meters of properties, 12.9% more than it realized in the same month of 2011.

Projects in Shanghai contributed RMB 470 million of sales in July, higher than sales in any other region.

In the first seven months of this year, the company's property sales amounted to RMB 6.72 billion, equivalent to 51.7% of its sales target for 2011. Sales area reached 809,000 sq m in the seven-month period.

Glorious Property currently has land reserves of 18.12 million sq m, which are enough for development for five to seven years.

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