Fantasia Announces January to October Cumulative Contract Sales of RMB6.03 billion; achieving the full year sales target two months ahead

3 November 2011, Hong Kong - Fantasia Holdings Group Co., Limited (“Fantasia” or “the Company”, HKSE stock code 1777) announced its sales performance for October 2011. Fantasia recorded contract sales of approximately RMB551 million and gross floor area (“GFA”) of 68,984 square meters sold, posting a year-on-year increase of approximately 35% and 39% respectively. As of 31 October 2011, the Company recorded cumulative contract sales of approximately RMB6.03 billion and GFA of 636,873 square meters sold, representing a year-on-year increase of 124% and 152% respectively. The cumulative contract sales for first 10 months has exceeded the Company’s full year sales target of RMB6 billion.


The government continues to enforce the austerity measures on China domestic property market, as a result sales in September and October which are peak seasons historically, showed lackluster performance industry-wide marked by slashed prices. Against sector headwinds, Fantasia’s contract sales grew strongly in October, driven by its competitive edge of good value and flexible sales approach underpinned by the product strategy of “boutique upscale residences and urban complexes”. The Company, among other industry leaders, has completed its full year sales target in 10 month time. Mr. PAN Jun, chairman and CEO of Fantasia commented, “I am extremely gratified that Fantasia has reached the full year sales target 2 months ahead of the schedule. I trust our team will continue to keep up the great work in the next 2 months to achieve greater success.”


In October, Fantasia’s urban complex projects - Guilin Fantasia Town, and its retail shops and LOFT commercial products, have been well received continuously. Projects located in non-restricted areas have also been keeping strong sales momentum, including boutique upscale residence project of Dongguan Wonderland. Mid-to-high-end residence project – Chengdu Fantasia Town has also enjoyed huge popularity.


In November, Fantasia will launch various units from five existing projects, including number 1, 7 and 8 residential blocks in Guilin Fantasia Town; one block of residential units in Chengdu Fantasia Town; one block of Huizhou Fantasia Special Town decorated apartment; brand new Mini villa product of Suzhou Lago Paradise; and additional retail shop units in Dongguan Wonderland.