Fantasia Announces Contract Sales of RMB385 million in March 2011,A year-on-year growth of 122%
6 April 2011, Hong Kong – Fantasia Holdings Group Co., Limited (“Fantasia” or “the Company”, HKSE stock code 1777) announced sales performance in March 2011. The company recorded contract sales of RMB385 million and GFA sold of 48,979 square meters, posting a year-on-year growth of 122% and 226% respectively. In the first quarter of 2011, the accumulated contract sales amounted to RMB1.05 billion, accumulated GFA sold was 118,993 square meters, posting a year-on-year growth of 147% and 229% respectively.
The Company’s relatively high growth rate in contract sales was attributable to its dual product growth driver-strategy of “Urban complex with boutique upscale residences”. As the real estate austerity policies are mainly targeted at residential properties, the Company’s urban business complex projects, such as Chengdu Meinian International Plaza, Chengdu Future Plaza, Tianjin Hailrun Plaza, have been continuously attracting market attention and maintaining stable sales. The total contract sales of the three projects accounted for nearly 50% of the total contract sales in March.
The core projects of the Company’s boutique upscale residences also recorded strong sales performance in March, including Dongguan Mont Conquerant with a unit size of 165 square meters. The Company also launched over a hundred units of Huizhou Fantasia Special Town in Guangdong, and attained a sold out sales record within two hours. The “restrictive policies on property purchase” have urged a number of home buyers to purchase housing with a “once and for all” attitude. As such, high quality and large scale boutique upscale residences have been sought-after.
While maintaining strong sales performance, the Company continues to steadily proceed with its project development on a national scale and establish its strategic presence. In March, the Company held a groundbreaking ceremony of Guilin Fantasia Town, which is the first large scale urban complex project in Guilin, with GFA of 600,000 square meters, and is scheduled for pre-sale this year.