HONG KONG, CHINA--(Marketwired - Sep 6, 2016) - Media OutReach -- 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 August 2016 increased 54% year-on-year to RMB3.70 billion. The first eight months achieved year-on-year growth of 154% to RMB36.30 billion, exceeded 83% of the full year sales target.
In August 2016, the Group's contracted ASP was RMB 19,600 per sq.m., up approximately 38% year-on-year, with the contracted GFA was approximately 188,500 sq.m.
From January to August 2016, contracted sales of the Group increased 154% year-on-year to RMB36.30 billion with a contracted GFA of approximately 2,043,900 sq.m., while contracted ASP from January to August 2016 was approximately RMB17,800 per sq.m., up approximately 40% year-on-year. During the first eight months of 2016, contracted sales of the Group achieved 83% of its full year contracted sales target of RMB43.8 billion.
Land Acquisition
In August 2016, 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.) |
| Shenyang | Tiexi District First Grain Warehouse Project | 100% | Residential | 84,832 | 186,630 | 1,222,430,000 | 6,550 |
| Shenyang | Dadong District Vocational and Technical College South-1 Project | 100% | Commercial, Residential |
55,560 | 133,344 | 346,690,000 | 2,600 |
| Shenyang | Dadong District Vocational and Technical College South-2 Project | 100% | Commercial, Residential |
61,451 | 135,192 | 367,720,000 | 2,720 |
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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
Contact Information:
For more information, please contact:
iPR Ogilvy & Mather
Gary Li / Joseph Zhou / Lily Zhang / Ophelia Wong
Tel: (852) 2136 6185
Fax: (852) 3170 6606
Email: