HONG KONG, July 6, 2016 /PRNewswire/ -- CIFI Holdings (Group) Co. Ltd. ("CIFI", or the "Group") (HKEX Code: 884), one of the "Top 100 Real Estate Developers in China" is pleased to announce that the Group revised its full year contracted sales target by 20%, from RMB36.5 billion to RMB43.8 billion. Contracted sales for June 2016 increased 53% year-on-year to RMB4.49 billion, with the contracted GFA was approximately 164,600 sq.m
In June 2016, the Group's contracted ASP was RMB 27,300 per sq.m., up approximately107% year-on-year.
From January to June 2016, contracted sales of the Group increased 162% year-on-year to RMB27.59 billion with a contracted GFA of approximately 1,491,000 sq.m., while contracted ASP from January to June 2016 was approximately RMB18,500 per sq.m., up approximately 48% year-on-year. During the first six months of 2016, contracted sales of the Group achieved 63% of its full year contracted sales target of RMB43.8 billion.
From January to June 2016, breakdowns of the Group's contracted sales were as follow:
| By city |
RMB (billion) |
% of total |
| Shanghai |
7.19 |
26.1% |
| Suzhou |
7.10 |
25.7% |
| Hangzhou |
3.55 |
12.9% |
| Beijing |
2.97 |
10.8% |
| Nanjing |
1.75 |
6.3% |
| Hefei |
1.37 |
5.0% |
| Tianjin |
1.35 |
4.9% |
| Wuhan |
0.87 |
3.2% |
| Langfang |
0.41 |
1.5% |
| Chongqing |
0.34 |
1.2% |
| Shenyang |
0.20 |
0.7% |
| Zhenjiang |
0.19 |
0.7% |
| Jiaxing |
0.18 |
0.6% |
| Changsha |
0.12 |
0.4% |
Land Acquisition
In June 2016, the Group has successfully conducted the following acquisitions:
| City |
Project |
Group's |
Intended |
Site (sq.m.) |
Total |
Group's |
Average Land Cost sq.m.) |
| Tianjin |
Jinnan District |
27% |
Residential |
67,726 |
121,908 |
116,100,000 |
3,527 |
| Suzhou |
Wujiang District |
100% |
Residential |
96,278 |
173,300 |
1,227,540,000 |
7,083 |
About CIFI Holdings (Group) Co. Ltd.
CIFI is headquartered in Shanghai and is amongst China's Top 30 Real Estate Developers. CIFI principally focus on developing high quality and end-users driven properties in first- and second-tier cities in China. CIFI's development projects cover various properties types including residential, office and commercial complexes. To learn more about the Company, please visit CIFI's website at: http://www.cifi.com.cn
