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Modern Land Sales of Properties Amounted to RMB 2,279 Million for the Nine Months ended 30 September 2013
Increased by Approximately 49% YOY
HONG KONG, Oct 11, 2013 - (ACN Newswire) - Modern Land (China) Co., Limited ("Modern Land" or the "Company", together with its subsidiaries, the "Group") a leading real estate developer of properties integrated with energy-saving technology in the PRC, today announced as below certain of the Group's unaudited operating statistics for the third quarter of and the nine months ended 30 September 2013.
In the third quarter of 2013, total deposits received and receipt in advance from property sales of the Group amounted to approximately RMB1,108 million, and total contracted sales amounted to approximately RMB689 million. Of which, contracted sales of properties amounted to approximately RMB664 million, whereas contracted sales of car parking spaces amounted to approximately RMB25 million. GFA pre-sold for properties was approximately 64,100 sq.m, with an average selling price of approximately RMB10,364 per sq.m. 149 car parking spaces were pre-sold with an average selling price of approximately RMB167,400 per car parking space.
For the nine months ended 30 September 2013, total deposits received and receipt in advance from property sales of the Group amounted to approximately RMB2,975 million, representing an increase of approximately 79% as compared with the same period in 2012, and total contracted sales amounted to approximately RMB2,366 million. Of which, contracted sales of properties amounted to approximately RMB2,279 million, whereas contracted sales of car parking spaces amounted to approximately RMB87 million. GFA pre-sold for properties was approximately 233,400 sq.m. with an average selling price of approximately RMB9,765 per sq.m. 597 car parking spaces were pre-sold with an average selling price of approximately RMB145,200 per car parking space. As compared with the nine months ended 30 September 2012, contracted sales of properties increased by approximately 49%; GFA pre-sold increased by approximately 18%; and the average selling price from the pre-sales increased by approximately 27%.
Mr. Zhang Lei, Executive Director, Founder and Chairman of the Group, remarked, "Following closely the announcement of sound operational performances for the first half year of 2013, the Group's third quarter results also reported steady business growth, evidencing the Company's persistent endeavor in energy-saving and eco-friendly real estate development, realizing rapid growth in business and operation scales, and further strengthening its competitive edge. We believe that with the Group's further development and improvement, as well as the public's increasing awareness of environmental protection, the green energy-saving property will enjoy larger upside potential in the future. The Group will continue to focus on technology and R&D capabilities, improving product quality and providing consumers with more diversified product mix, and strive to bring substantial returns to shareholders."
Contact:Porda Havas International Finance Communications Group
Kelly Fung, +852 3150 6763, kelly.fung@pordahavas.com
Angie An, +852 3150 6736, angie.an@pordahavas.com
Victoria Huang, +852 3150 6731, victoria.huang@pordahavas.com
Tracy Yang, +852 3150 6752, tracy.yang@pordahavas.com
Fax: +852 3150 6728
Source: Modern Land (China) Co Ltd
Sectors: Daily Finance
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