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HONG KONG, Jan 6, 2012 - (ACN Newswire) - Fantasia Holdings Group Co., Limited ("Fantasia" or "the Company", Stock Code: 1777) announced today its sales results for December 2011. Fantasia recorded contract sales of approximately RMB511 million and gross floor area ("GFA") sold of 59,837 square meters, posting a month-on-month growth of approximately 11% and 21% respectively. As of 31 December 2011, the Company recorded cumulative contract sales for 2011 of approximately RMB7.005 billion and GFA sold of 746,104 square meters, representing a year-on-year increase of 80% and 95%, respectively. The cumulative contract sales equated to 117% of the full year sales target of RMB6 billion.
Since December is a conventional off season and the government is resolved to carry on the macro control policy, pressure on sales of commercial residential properties is mounting. Fantasia, however, in adherence to a prudent development strategy, provided high-quality products and services in the four economically prosperous regions of China where the Company has a well-established business presence, thus maintaining a steady growth month on month in December.
The business of urban complex remains a focus of the market. The total contract sales of six urban complexes, namely Chengdu Meinian International Plaza, Chengdu Future Plaza, Chengdu Funian Plaza, Tianjin Future Plaza, Shenzhen Meinian International Complex and Guilin Fantasia Town, accounted for approximately 52% of the Company's overall sales in December. In particular, the annual sales of Guilin Fantasia Town ranked as one of the top three in Guilin City, and the Shenzhen Meinian International Complex was almost 100% sold out.
The boutique upscale residences projects are still widely received in the market. According to the statistics from Dongguan Central Plains Research Center, the Company, on the strength of its two bestselling projects, namely Dongguan Mont Conquerant and Dongguan Wonderland, became one of the top five property developers in Dongguan in terms of sales amount in 2011. According to the statistics from the official website of Huiyang Housing Authority, the project of Huizhou Fantasia Special Town ranked first in terms of unit sales in Huiyang District in 2011.
In January 2012, the Company has 18 urban complexes and boutique upscale residences projects on the market in 10 cites throughout the country.
In December, the Company signed a cooperation agreement with Starwood Group, the world's leading hotel management group, in a bid to introducing the Four Points Sheraton Hotel to the Guilin Fantasia Town project. Meanwhile, Fantasia started to build boutique hotel brand on its own with four product lines of various grades in the pipeline. U Hotel, the first hotel brand of its own, has opened in Shenzhen and Rhombus Fantasia Chengdu Hotel will also open in the near future. Fantasia will build 15 hotels of different scales in the next three years.
Topic: Press release summary
Source: Fantasia Holdings Group Co., Limited
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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