Guangzhou R&F sales rise 35pc

Business | Tracy Hu 3 Jan 2018

Guangzhou R&F Properties (2777) yesterday said that it sold HK$81.8 billion worth of properties last year, 35 percent up, with contracted area at 6,324,200 square meters.

Last month, the group recorded a 75 percent year-on-year growth in sales after selling properties with a combined area of 606,000 square meters.

Assistant to chairman Chen Zhihao said the group significantly increased last year its acquisition of development sites. He expressed confidence the group will see another record high in acquisitions this year.

Meanwhile, China Aoyuan Property (3883) said its contracted sales last year amounted to 45.59 billion yuan (HK$54.86 billion), marking a 78 percent year-on-year growth.

Last month, it achieved contracted sales of 1.2 billion yuan involving an area of 1.11 million square meters, representing a 230 percent and 172 percent year-on-year growth, respectively.

"Aoyuan has issued two series of US dollar senior notes totaling US$500 million (HK$3.9 billion) and both were oversubscribed more than 10 times.

The US dollar senior notes issued in September also marked the company's historical low coupon rate at 5.375 percent," the company said yesterday.

Its projects are mostly located in south, central, east and west China.

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