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RESIDENTIAL PROPERTY | Tony Chua, Hong Kong
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Minmetals Land’s first half contracted sales up 260% to RMB2.5bn

About RMB300mn sales orders have been made at the end of June.

Minmetals Land Limited (“Minmetals Land”) announced on Thursday, in a company report, that its contracted sales for the first half of 2011 grew substantially by 263% YoY to around RMB2.5 billion, while contracted GFA sold also grew substantially by 294% to approximately 276,000 sq.m. At the end of June 2011, there were approximately RMB300 million sales orders, pending signing off of the final documents. As a result of change in product mix of deliveries, the average selling price during the reported period reduced by 8% YoY to approximately RMB9,000 per sq.m.

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