Evergrande Achieved Sales Volume of 33.73 Billion Yuan in the First Five Months, Completing 48.2% of the Full-Year Target

BEIJING, June 13, 2011 /PRNewswire/ --

On June 10, 2011, Evergrande released its sales performance in Hong Kong. The Company achieved the sales volume of 7.78 billion yuan in May 2011, and the contracted sales area of 1.132 million square meters, with an increase of 92.1% and 76.9% respectively compared to that of May 2010, and with an increase of 26.5% and 29.4% respectively compared to that of April 2011. An original report by Sina Leju follows:

Evergrande thus achieved the sales volume of 33.73 billion yuan accumulatively within the year, completing 48.2% of the full-year sales target of 70 billion yuan, and there is no suspense that Evergrande will complete the half-year target of 35 billion in advance. In the face of the adverse market environment, the Group kept the hot sale momentum in the first five months, and maintained the growth on a month-on-month basis. The advantages of Evergrande in the strong team executive force, the forward-looking strategic layout and the boutique properties of high cost-effectiveness enable its sales in a steady growth status all the time.

7 new projects were launched in May, with the powerful sales volume of 2.52 billion yuan

According to the integrated market data, in the capital market of Hong Kong where the mainland real estate enterprises gather, Evergrande took the absolute leading position in sales amount and sales area in the first five months. The fast sale brought by the rapid development is the key reason for Evergrande to keep the leading position.

Evergrande opened 7 new projects in May this year, 6 of which are located in third-tier cities, with the total full-month sales volume of new projects at 2.52 billion yuan. Evergrande has effectively developed the markets of the second- and third-tier cities, and avoided the national macro-control risks, enabling the Group in a steady growth status under national macro-controls. The Group has now had 78 projects on sale, which are distributed in 44 cities of China. It has the projects on sale in 26 third-tier cities of 15 provinces and municipalities.

Successful sample for the layout in the second- and third-tier cities

At present, more and more Chinese real estate enterprises focus on the second- and third-tier cities. Under such background, the advance layout of Evergrande enables it to become the leading real estate enterprise with the wind vane effect in the second- and third-tier cities. According to President Xia Haijun, Evergrande has achieved the sales volume of nearly 34 billion yuan up to now this year, completing approximately one half of the full-year target, indicating that the forward-looking strategic layout of Evergrande has played a positive role.

According to the insiders, in the first half year of 2011, under the control of a series of macro-policies such as the "purchase restriction order" and "price restriction order" in the mainland real estate market, shrinkage of transaction conclusion appeared in the first-tier cities. Evergrande, which developed in the second- and third-tier cities in advance, conforming to the market demand and the policy guidance, has made reasonable layout nationwide to stabilize the sales growth by means of the choice products of high cost-effectiveness. This also enables Evergrande to become one real estate enterprises with sustained sales growth in 2011.