(17 May 2011 – Hong Kong) Country Garden Holdings Company Limited ("Country Garden" or the "Group", SEHK stock code: 2007), one of the leading integrated property developers in China, announced that the Group launched Country Garden – Phoenix City (Jurong), its second project in Jiangsu Province, on 15 May 2011. Of the approximately 2,500 units initially launched, over 70% or more than 1,800 units were sold in the first two days of launch, posting a transaction amount of nearly RMB1.2 billion. This represents a new record high of the Group’s debut sales.
The successful launch of Country Garden – Phoenix City (Jurong) once again proved our replication ability of business model, in particular the high value-for-money pricing strategy, in areas outside Guangdong Province. Currently, the Group has over 70 projects that are under sale and apart from that, it is planning to launch several new projects later this year. We believe this will bring forth steady and sustainable growth momentum to the Group.
As of 16 May 2011, the Group achieved contracted sales of approximately RMB15.4 billion, and approximately RMB3.7 billion of transaction amount pending on final contract signing.