BEIJING, Nov. 14, 2011 /PRNewswire-Asia/ -- Recently, the
football team of Evergrande Group (3333.HK), a leading real estate
enterprise in China, won the
championship of the CSL with four games still to play, creating the
first Kaiserslautern miracle in Chinese football history. Actually,
such miracles also occur in the main real estate industry of
Evergrande. In spite of constant macro-controls in the Chinese real
estate market, Evergrande has still exceeded its full-year target
of 70 billion yuan two months early
with an accumulated sales volume of 78.7
billion yuan in the first ten months, becoming the first to
fulfill its full-year sales target in China. An original report from Sina Leju
follows:
On November 14, Evergrande
released its October sales performance in Hong Kong. It achieved single-month contracted
sales volume of 8.612 billion yuan
and a contracted sales area of 1.398 million square meters, an
increase of 54.9% and 56.7% respectively on a year-on-year basis.
Thus, from January through October this year, Evergrande has
accumulatively achieved the contracted sales volume of 78.772 billion yuan, with an increase of 89.2% on
a year-on-year basis, fulfilling 111.2% of its full-year sales
target.
According to public data, due to the influence of macro-control
policies of the Chinese real estate market such as the Purchase
Restriction Order, a majority of the Chinese real estate
enterprises have generally slowed down in their sales rhythm, and
the numbers of real estate enterprises which can fulfill their
full-year sales target can be counted on the fingers of one hand.
It is worth mentioning that such cases are not significant to
Chinese leading real estate enterprises which implement a
nationwide layout. In the first ten months of this year, Vanke
achieved sales volume of more than 100
billion yuan, fulfilling 77.3% of its target with sales
volume of 108.16 billon yuan; Longfor Properties achieved sales
volume of 32.63 billion yuan,
fulfilling 82% of its target; China Overseas Property achieved
sales volume of 63.68 billion yuan,
fulfilling 97.6% of its target. By contrast, Evergrande guarantees
steady growth of sales performance by virtue of the
high-cost-effectiveness products and the marketing strategies
fluctuating in line with market conditions, and so it is the first
to exceed its full-year sales target.
According to insiders, a high-turnover business model,
reasonable product mix and a forward-looking strategy are the key
factors for Evergrande to maintain its high-speed growth.
Especially in the high-turnover business model, Evergrande adheres
to the principles of rapid land acquisition, rapid development and
rapid marketing, becoming the benchmark of Chinese real estate
enterprises which consistently breaks through adversity. It is
reported that Evergrande had 17 new projects in October alone, with
the number of projects on sale amounting to 121, which are
distributed among 73 cities in China.
SOURCE Sina Leju
