SOURCE: CIFI Holdings (Group) Co. Ltd.

CIFI Holdings (Group) Co. Ltd.

April 05, 2017 23:31 ET

CIFI achieved substantial contracted sales YoY growth of 110% in 1Q 2017

HONG KONG, CHINA--(Marketwired - Apr 5, 2017) - CIFI Holdings (Group) Co. Ltd. ("CIFI", or the "Group") (HKSE: 884), one of the "Top 20 Real Estate Developers in China" is pleased to announce that contracted sales for March 2017 increased approximately 50% year-on-year to RMB9.10 billion. The first three months achieved year-on-year growth of 110% to RMB23.26 billion.

In March 2017, the Group's contracted ASP was RMB 20,200 per sq.m., up approximately 15% year-on-year, with the contracted GFA was approximately 451,000 sq.m.

From January to March 2017, contracted sales of the Group increased approximately 110% year-on-year to RMB23.26 billion with a contracted GFA of approximately 1,206,000 sq.m., while contracted ASP from January to March 2017 was approximately RMB19,300 per sq.m., up approximately 8% year-on-year. During the first three months of 2017, contracted sales completed by the Group represented 35.8% of its full year target of RMB65.0 billion.

Land Acquisition
In March 2017, the Group has successfully conducted the following acquisitions:

City   Project Group's Current Equity Interest   Intended Primary
Use
  Site Area
(sq.m.)
  Total Planned GFA Excluding Carpark (sq.m.)   Group's Attributable Consideration (RMB)   Average
Land Cost (RMB/
sq.m.)
Shanghai   Changning District, Huashanliyuan Project 100%   Residential   N/A   10,537   788,240,000   N/A
Sanya   Xin'aoliyang Project 51%   Residential   200,000   50,000   504,900,000   19,800

About CIFI Holdings (Group) Co. Ltd.
CIFI is headquartered in Shanghai and is amongst China's Top 20 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

Contact Information

  • Investor Relations Contacts:
    CIFI Holdings (Group) Co. Ltd.
    Albert Yau / Lawrence Leung / Steven Peng
    Tel: +852 2156 1316
    Email: Email Contact