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Glorious Property
Annual Report 2011
18
Management Discussion and Analysis -
Business Review
(Continued)
Business Review (Continued)
II. PROPERTY SALES
In 2011, the property sales of the Group was RMB13,322.0 million, representing a YOY growth of 5.1%, while
property sales area totaled 1.56 million sq.m., representing an increase of 36.4% from that of last year. Property
sales in Northeast China accounted for approximately one third of the annual total sales of the Group, amounting
to RMB4,267.7 million with a YOY growth of 103.4%, while property sales area was 0.70 million sq.m. with a
YOY growth of 133.2%. In addition, regarding the property sales of individual project whose annual sales goal
has been achieved, Royal Lakefront in Shanghai Region and Changchun Villa Glorious in Northeast China ranked
the best of the Group. Royal Lakefront completed the annual sales target in the first half of 2011, recording a
total property sales of RMB1,886.2 million for the whole year; Changchun Villa Glorious recorded a sales of
approximately RMB550 million on its first launching day, setting a new record for property sales in Changchun
and realised property sales of RMB1,036.1 million for the entire year.
Royal Lakefront in Shanghai attracted thousands of purchasers on its first launching day
Changchun Villa Glorious recorded a
strong property sales
During the year, the Group had a good performance in property sales, especially in the second- and third-tier cities
including Nantong, Hefei, Shenyang, Changchun and Harbin. It was mainly because the Group strengthened its
penetration in second- and third-tier cities in the past two years and accelerated the pace of selling and promoting
products in such cities. As a result, the sales amount in the second- and third-tier cities increased from RMB5,979.9
million in 2010 to RMB8,515.8 million in 2011, representing an increase of 42.4%.