Central China Real Estate achieved contracted sales of RMB1,703 million in February 2017, up 310.1% yoy

Central China Real Estate Limited (“CCRE” or the “Company”, together with its subsidiaries, the “Group”; SEHK stock code: 832), one of the leading Henan-based property developers announced that, for the first two months ended 28 February 2017, the Group achieved total property contracted sales of RMB2,938 million, representing a y-o-y increase of 277.1%.

Achieved a total contracted sales gross floor area (“GFA”) of 539,557 sq.m., representing a y-o-y increase of 307.8%. The average selling price (“ASP”) for the first two months ended 28 February 2017 amounted to RMB5,445 /sq.m., representing a y-o-y decrease of 7.5% due to product mix change. In the month of February 2017, the Group achieved property contracted sales of RMB1,703 million, representing a y-o-y increase of 310.1%. With a contracted sales gross floor area (“GFA”) of 314,879 sq.m., representing a y-o-y increase of 300.3%.

The ASP for February 2017 amounted to RMB5,408/sq.m., representing a y-o-y increase of 2.4% due to product mix change. The Group expects the property contracted sales target for the year of 2017 amounts to approximately RMB26,800 million, with an increase of 33% from the Group’s achieved contracted sales of RMB20,146 million in 2016.

Source: CCRE

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