Agile Property pre-sales jump 18.6 pct m-o-m in February

Guangzhou-based property developer Agile Property Holdings Ltd. said it had generated a total of 3.45 billion yuan (MOP4.23 billion/US$528.7 million) for February, a month-on-month jump of 18.6 per cent compared to some 2.91 billion yuan in January. According to the company’s filing with the Hong Kong Stock Exchange yesterday, the Chinese property developer pre-sold a total gross floor area of 337,000 square metres with an average selling prices of 10,251 yuan per square metre. For the first two months of this year, the company’s accumulated pre-sales values reached 6.37 billion yuan, with total gross floor area of 640,000 square metres sold at some 9,949 yuan per metre. In fact, the growth of pre-sales value of the developer outperformed its major rival in the market -Country Garden Holdings Company Ltd. Both of these two Mainland Chinese companies are popular with Macau and Hong Kong investors for their residential projects on the Mainland. Last Friday, Country Garden said in a filing that the company’s contracted sales for the first two months of the year totalled 23.65 billion yuan, suggesting its contracted sales for last month was some 11.15 billion yuan, a drop of 10.8 per cent compared to 12.5 billion yuan in January. According to the developer, a total of 18.19 billion yuan of the total contracted sales for the two months would be attributable to its owners. The company pre-sold a total of 3.23 million square metres of gross floor area during the period.