Sales Hit Over RMB800 Million Sales Area Exceeded 80,000 sq.m.
HONG KONG, March 30 /PRNewswire-Asia/ -- Agile Property Holdings Limited ("Agile" or the "Group"; stock code: 3383), one of the leading PRC property developers, is pleased to announce that its third project outside Guangdong Province, namely Hainan Clearwater Bay (the "Project"), has started to launch officially for sale to the public on 28th of March. From the opening day of sample units to the official day of sales, the market response has been overwhelming as evidenced by the sale of a total of 600 units of villas and apartments. The average selling price of villas was RMB18,000 per sq.m. and the average selling price of apartments was RMB8,500 per sq.m. To date, the aggregate sales amounted to over RMB800 million, and the sales area reached over 80,000 sq.m.
The first phase of Hainan Clearwater Bay comprises two components, namely "Golfer's Paradise" villas and "Cote d' Azur" apartments, both of which are highlighted by a full view of the golf course. The gross floor area reached pre-sale standard for the two components is 170,000 sq.m., amongst which "Golfer's Paradise" is sold by prestigious units while "Cote d' Azur" has fulfilled the pre-sale condition. In addition, another component namely "Silver Sand" including villas, apartments and serviced apartments with the theme of sea view is expected to launch in the fourth quarter this year. It is estimated that gross floor area reached pre-sale standard in 2009 will reach 450,000 sq.m. and will be launched in accordance with the market situation.
Located in Lingshui County, Hainan Clearwater Bay enjoys geographical edge with proximity to Sanya City and is about 40-minute drive from both Sanya downtown and Sanya airport. Capitalizing on the 12-kilometer-long coastline in the Southeast, which is of great value in tourism development, the Project is one of the key construction projects under the "11th Five-Year Plan" of Hainan Province and will be developed into a large-scale resort and residential community. With a site area of about 9,100,000 sq.m. and a gross floor area of about 9,860,000 sq.m., the Project will be equipped with three 18-hole golf courses of international standard, six top-notch hotels and two yacht clubs, together with large-scale commercial streets, shopping malls, hot spring valley as well as other resort real estate facilities, hence making it an ideal spot for tourists and travelers from around the world. At present, the construction of infrastructure for the majority of properties in the first phase of Hainan Clearwater Bay as well as the 16-kilometer-long scenery road is completed. Besides, a 18-hole golf course and the clubhouse will commence operation soon.
As a unique sub-tropical and tropical island in China, Hainan enjoys predominant natural resources and is known as the "Oriental Hawaii", attracting many tourists and travelers, both domestically and internationally. In 2008, in light of the impact by the global financial crisis, most tourism cities reported a decline in both the number of visitors and income. Nevertheless, the tourism market in Hainan continued to grow rapidly, despite market downturn, in terms of domestic and overseas tourists and total tourism income. During the golden week of the Chinese Lunar New Year, the number of domestic and overseas tourists visiting Hainan was close to 900,000, and the total tourism income amounted to over RMB1.7 billion which is a dramatic increase as compared with last year. Benefiting from a series of favorable policies which will be launched in sequence by the Government of Hainan Province in order to enhance the construction of infrastructure and the advancement of the tourism industry, Hainan Island will become the top-notch tourist spot in China and even in the world, offering immense development opportunities and prospects for resort real estate market.
Chairman of Agile, Mr. Chen Zhuolin, Vice Chairlady and Co-President, Ms. Luk Sin Fong, Fion, Managing Director of Morgan Stanley, Chairman of Real Estate Investments, Asia, Mr. Hoke Slaughter and Executive Director of Morgan Stanley, Mr. Calvin Chou attended the Grand Opening ceremony. Morgan Stanley is the partner of Agile on the Hainan Clearwater Bay project.
Commenting on the sales performance of Hainan Clearwater Bay, Mr. Chen said: "We are heartened to witness such overwhelming sales performance since the official launch of the project. Looking forward, Agile will continue to utilize its competitive advantages and experience from years in property development and further enforce the project execution. Likewise, Agile is also committed to developing Hainan Clearwater Bay into an internationally recognized resort and residential community, so as to maximize returns for shareholders and clients."
Mr. Calvin Chou commented, "Morgan Stanley is committed to the long term success of this project and to our partner Agile. We have a long and close association with Agile and we are very happy to have them as our partner on this beautiful project. When you look at the Hainan Clearwater Bay project, it is clear that the management team of Agile is passionate, experienced and committed to flawless execution."
Corporate Profile
Agile Property Holdings Limited is listed on the Main Board of the Stock Exchange of Hong Kong Limited (Stock Code: 3383). Currently, Agile Property owns a diversified portfolio of 53 projects in 19 cities and communities all over China such as Guangzhou, Zhongshan, Foshan, Heyuan, Huizhou, Shanghai, Nanjing, Chengdu, Xi'an, Chongqing, Shenyang and Hainan. As at 28 March, 2009, the Group has a land bank with a total GFA of over 29 million sq. m. (including both lands with titles and lands with contractual interests).
Agile Property Holdings Limited is one of the leading PRC property developers. The Group is a constituent of the Morgan Stanley China Index, the Hang Seng Composite Index, and the Hang Seng Freefloat Composite Index.
Appendix - An introduction to Hainan's potential of tourism and the investment value of Hainan Clearwater Bay
Latitude 18 degrees north, where Hainan Clearwater Bay is located, runs through almost all of the tropical seacoast hot spots in the world which are the paradises coveted by vacation-lovers worldwide, such as Hawaii, Miami, Phuket of Southeast Asia, Maldives and Bali. Enormous investment value and development potential for Hainan Clearwater Bay are thus generated by this conceivable huge demand for resort real estate.
After being positioned by the PRC Government as an island open to global travelers, it is expected that people who look for an exceptional vacation, domestic or abroad, will rush in for house purchase or investments. Hainan, being the only sub-tropical island in China and one of the most well-known tourism islands in the world, enjoys exceptional natural environment with an average temperature remaining steadily at about 25°C throughout the year and many gorgeous virgin beaches scattered on the coast. Information from Hainan Real Estate Association reveals that the proportions of house purchasers from outside Hainan from 2006 to 2008 reached 55%, 54% and 58% respectively, and Sanya tops travelers' list of regions in the island for their vacations by its pluralistic seacoast community, mature ecological reservation zones and multi-functional vacation areas. In the last quarter of 2008 when the financial crisis swept across the world, the housing market in Sanya remained brisk as reflected by the house price index which saw an increase of 10.4%, and the transaction volume that amounted to RMB11.143 billion after a 60.3% y-o-y surge. In the Golden Week during the Chinese Lunar New Year of 2009, a record-high 388,700 person-times visited Sanya. These not only reflect the rise of a new round of potential development of tourism industry in Sanya but also an indication of the impending rapid development of "seacoast tourism" in China.
From sample units' opening to official launch, Hainan Clearwater Bay attracted eyeballs of numerous potential house buyers and investors across the nation and abroad and the project became a miracle in the domestic real estate market. With its unrivalled natural resources, complete spectrum of ancillaries and appreciation potential, Hainan is set to be a rising star of the golden belt of vacation along latitude 18 degrees north and a dazzling gem in the tourism sector of Hainan.
For more information, please contact:
iPR Ogilvy Ltd.
Callis Lau / Charis Yau / Joey Wan / Nick Fung
Tel: +852-2136-6952 / 2136-6183 / 2136-6954 /2169-0646
Fax: +852-3170-6606
Email: callis.lau@iprogilvy.com / charis.yau@iprogilvy.com /
joey.wan@iprogilvy.com / nick.fung@iprogilvy.com
Agile Property Holdings Limited
Michael Huang / Peggie Wai
Tel: +86-760-8668-6868 / +852-2780-8688
Fax: +86-760-8632-7753 / +852-2780-8822
Email: Michael.huang@agile.com.cn / peggiewai@agile.com.cn
