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Glorious Property
Annual Report 2011
24
Management Discussion and Analysis -
Business Review
(Continued)
As at 31 December 2011, the total land bank of the Group was 17.9 million sq.m., which was sufficient to meet
its development need in the coming five to seven years. The average land cost was RMB1,338 per sq.m.. The
relatively low-cost land bank provided the Group with a strong foundation for sustaining higher profit margins in
the years to come.
The Group’s land bank is evenly distributed over first-, second- and third-tier cities, of which 20% is in first-tier
cities and 80% in second- and third-tier cities. The high quality, low cost and reasonably distributed land bank of
the Group will facilitate its long-term sustainable development.
Business Review (Continued)
IV. LAND BANK (Continued)
Overview of land bank of the Group by region as at 31 December 2011:
Shanghai Region
Northeast China
Pan Bohai Rim Yangtze River Delta
2,598
9,161
2,051
BREAKDOWN OF LAND BANK
LandBank (‘000 sq.m.
㕙
Average land cost (RMB/ sq.m.)
1,214
1,133
1,365
1,782
4,085