Fantasia Announces August Contract Sales of RMB734 million,Year-on-year growth of 146%,32.3% growth from July

6 September 2011, Hong Kong – Fantasia Holdings Group Co., Limited (“Fantasia” or “the Company”, HKSE stock code 1777) announced its sales performance for August 2011. Fantasia recorded contract sales of approximately RMB734 million and gross floor area (“GFA”) of 72,220 square meters sold, posting a year-on-year growth of approximately 146% and 183% respectively. As of 31 August 2011, the Company recorded cumulative contract sales for the year of approximately RMB4.69 billion and GFA of 471,925 square meters sold, representing a year-on-year increase of 158% and 205% respectively. The cumulative contract sales equates to 78% of the full year sales target of RMB6 billion.


The continuous tightening of austerity measures has put property developers under sales pressure. Some property developers experienced a slowdown in sales momentum, with lower contract sales in August compared to the previous month. In contrast, Fantasia’s contract sales in August increased by 32.3% from July, showing that the Company has maintained a high level of growth despite the market downturn. This increase was the result of Fantasia’s precise positioning as a property developer that is committed to providing customers with a full life cycle of housing products and services. Moreover, Fantasia will continue to maintain a flexible and proactive strategy to satisfy the ever-changing market demand, and continue its leadership in multi-product lines of urban complexes.


Against the backdrop of government-enforced purchase-restriction on residential properties, Fantasia has been concentrating on launching a number of urban complex projects that are well received by the market. The contract sales of these urban complex projects for August accounted for 63% of the total contract sales. The launch of retail units at Chengdu Funian Plaza and Guilin Fantasia Town were heavily sought after. Chengdu Funian Plaza secured an investment of RMB60 million from one of Fantasia’s long-term customers to purchase units of the project, which demonstrated the attractiveness of the product as well as customer loyalty to the Company. Fantasia has extensive experience in developing highly functional LOFT products and in August, LOFT products for both commercial and residential use of Tianjin Future Plaza and Guilin Fantasia Town were launched for sale and were keenly sought after by local customers. The office unit products of Shenzhen Meinian International Complex have continued to be well received since its launch over 4 months ago at the end of April, with an 85% overall sales rate.


The sales rate of Dongguan Wonderland, Fantasia’s boutique upscale residence project, has reached 83% since its debut launch at the end of June. The project was well received by Shenzhen customers.


In September, Fantasia will launch additional units at two existing projects, including retail and residential products at Guilin Fantasia Town in Lingui New District; and multi-functional residential products at Huizhou Fantasia Special Town and the sales of which continued to perform favourably. These units are poised to generate another round of positive sales performance.