Agile Property's sales revenue hit RMB 9.1 bln in Jan-May

Published: 21 Jun 2009 22:36:59 PST

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Jun. 22, 2009 (China Knowledge) - Agile Property Holdings Ltd<3383> on Jun. 17 announced that its contracted sales revenue swelled 70% year on year in the first five months of this year, totaling RMB 9.1 billion, RMB 2 billion of which was from sales in an apartment project near Clear Water Bay, Hainan Province, sources reported.

In the period from January to May, the real estate developer's contracted sales area reached 1.42 million square meters (sq m), accounting for 62% of the company's 2009 target.

In Guangzhou, the capital of Guangdong Province, Agile Property had sold 1,531 units and recorded sales revenue of RMB 1.13 billion as of May 31.

In three weeks since May 24, the firm sold 150 units in a residential project in Baiyun District, Guangzhou, earning RMB 140 million in sales revenue. Most of the apartments in the project have a floor area between 86 sq m and 101 sq m.

At present, the Hong Kong-listed company has RMB 5.9 billion in cash and has no plans to raise additional funds. Its debt/asset ratio is 30%.

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