HONG KONG, Oct. 11, 2016 /PRNewswire/ -- CIFI Holdings (Group) Co. Ltd. ("CIFI", or the "Group", HKEX Code: 884), one of the "Top 20 Real Estate Developers in China" is pleased to announce that contracted sales for September 2016 increased 66% year-on-year to RMB5.01 billion. The first nine months achieved year-on-year growth of 139% to RMB41.31 billion, achieved 94% of the full year sales target.
In September 2016, the Group's contracted ASP was RMB 20,200 per sq.m., up approximately 40% year-on-year, with the contracted GFA was approximately 247,800 sq.m.
From January to September 2016, contracted sales of the Group increased 139% year-on-year to RMB41.31 billion with a contracted GFA of approximately 2,291,700 sq.m., while contracted ASP from January to September 2016 was approximately RMB18,000 per sq.m., up approximately 38% year-on-year. During the first nine months of 2016, contracted sales of the Group achieved 94% of its full year contracted sales target of RMB43.8 billion.
Breakdowns of the Group's contracted sales during the first nine months of 2016 were as follow:
By City |
RMB Billion |
% of Total |
Suzhou |
9.27 |
22.4% |
Shanghai |
9.02 |
21.8% |
Hefei |
5.20 |
12.6% |
Beijing |
5.04 |
12.2% |
Hangzhou |
4.83 |
11.7% |
Nanjing |
2.11 |
5.1% |
Tianjin |
1.91 |
4.6% |
Wuhan |
0.96 |
2.3% |
Shenyang |
0.74 |
1.8% |
Changsha |
0.64 |
1.6% |
Chongqing |
0.64 |
1.5% |
Langfang |
0.47 |
1.1% |
Zhenjiang |
0.28 |
0.7% |
Jiaxing |
0.20 |
0.5% |
By Region |
RMB Billion |
% of Total |
Yangtze River Delta |
30.91 |
74.8% |
Pan Bohan Rim |
8.16 |
19.8% |
Central Western Region |
2.24 |
5.4% |
Land Acquisition: Prudent and Highly Disciplined
In September 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.) |
Suzhou |
Riverside Park, |
30% |
Residential, |
N/A |
16,721 |
56,018,002 |
9,748 |
Suzhou |
Riverside Park, |
30% |
Residential, |
N/A |
98,397 |
313,458,526 |
10,468 |
Suzhou |
Xiangcheng G3 |
30% |
Commercial |
N/A |
100,416 |
145,489,670 |
2,014 |
Yixing |
Grand Lakeview (South Section |
50% |
Residential, |
N/A |
485,665 |
452,959,635 |
1,737 |
Changsha |
Arch of Triumph |
30% |
Residential, |
N/A |
230,222 |
69,425,888 |
763 |
The above acquisitions were made by contractual joint venture agreements with Henderson China.
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