With an Accumulated Sales Volume of 77.9 Billion Yuan in the First Ten Months, Evergrande is the First to Exceed its Full-year Target

BEIJING, Nov. 14, 2011 /PRNewswire-Asia/ -- Recently, the football team of Evergrande Group (3333.HK), a leading real estate enterprise in China, won the championship of the CSL with four games still to play, creating the first Kaiserslautern miracle in Chinese football history. Actually, such miracles also occur in the main real estate industry of Evergrande. In spite of constant macro-controls in the Chinese real estate market, Evergrande has still exceeded its full-year target of 70 billion yuan two months early with an accumulated sales volume of 77.9 billion yuan in the first ten months, becoming the first to fulfill its full-year sales target in China. An original report from Sina Leju follows:

On November 14, Evergrande released its October sales performance in Hong Kong. It achieved single-month contracted sales volume of 8.612 billion yuan and a contracted sales area of 1.398 million square meters, an increase of 54.9% and 56.7% respectively on a year-on-year basis. Thus, from January through October this year, Evergrande has accumulatively achieved the contracted sales volume of 77.872 billion yuan, with an increase of 89.2% on a year-on-year basis, fulfilling 111.2% of its full-year sales target.

According to public data, due to the influence of macro-control policies of the Chinese real estate market such as the Purchase Restriction Order, a majority of the Chinese real estate enterprises have generally slowed down in their sales rhythm, and the numbers of real estate enterprises which can fulfill their full-year sales target can be counted on the fingers of one hand. It is worth mentioning that such cases are not significant to Chinese leading real estate enterprises which implement a nationwide layout. In the first ten months of this year, Vanke achieved sales volume of more than 100 billion yuan, fulfilling 77.3% of its target with sales volume of 108.16 billon yuan; Longfor Properties achieved sales volume of 32.63 billion yuan, fulfilling 82% of its target; China Overseas Property achieved sales volume of 63.68 billion yuan, fulfilling 97.6% of its target. By contrast, Evergrande guarantees steady growth of sales performance by virtue of the high-cost-effectiveness products and the marketing strategies fluctuating in line with market conditions, and so it is the first to exceed its full-year sales target.

According to insiders, a high-turnover business model, reasonable product mix and a forward-looking strategy are the key factors for Evergrande to maintain its high-speed growth. Especially in the high-turnover business model, Evergrande adheres to the principles of rapid land acquisition, rapid development and rapid marketing, becoming the benchmark of Chinese real estate enterprises which consistently breaks through adversity. It is reported that Evergrande had 17 new projects in October alone, with the number of projects on sale amounting to 121, which are distributed among 73 cities in China.

SOURCE Sina Leju

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