Evergrande Ushers In A Good Start to the Slow Season, Achieving Sales of 7.25 billion RMB with 226% year-on-year increase

Feb 05, 2013, 02:50 ET from Sina Leju

BEIJING, Feb. 5, 2013 /PRNewswire/ -- On February 4, a briefing issued by Evergrande Group, a leading real estate enterprise in China, showed that sales volume for the first month of 2013 was 7.25 billion RMB, a year-to-year increase of 226.1%. The total sales areas was 1.168 million square meters, a year-to-year increase of 212.9%.

During the usual slow season of China's real estate market, Evergrande had a very good start in 2013. Some analysts believed that recently, influenced by the good government policy of new-type urbanization, the rigid demand of China's real estate industry is being gradually eased. First-home buyers and those buyers trading up have become the mainstream of the market. Evergrande correctly grasped the current good situation in the market and launched good products with a strategy of high cost performance for people's livelihoods, along with a small profit but quick turnover, and gained a rigid demand share of the market. This has resulted in good performance at a critical moment.

It is worthwhile to mention that the sales target of Evergrande in 2013, which was announced on January 14, was carefully increased to 100 billion RMB, which is an increase of 25% from 2012. Also, Evergrande Group officially declared that it is pursuing the goal of joining the "100 billion club" in China's real estate industry. Hui Ka Yan, board chairman of Evergrande has said on many occasions that "whatever target Evergrande makes, it will be surpassed."

Policy experts have pointed out that with the deepening and advancing of the policy of new-type urbanization construction by the central government in 2013, China's real estate market will welcome a continuous release of pent-up demand. Evergrande, with its products designed for people's livelihood as its main business, relying on its prospective city layouts, is making changes to its sales strategies to take advantage of the changes in the market. By scientifically controlling the sales steps and reasonably integrating the amount of products launched, the company will again win the recognition of the market and support from its investors. Sales prospects are good, and there are good chances ahead for its development.

In the past four years, Evergrande has realized its commitment to its investors. Statistics show that the total sales volume of Evergrande in 2012 was 92.32 billion RMB, which was 115.4% of its sales target. It was the fourth time that Evergrande has surpassed its annual target since 2009 when it became a listed company.

SOURCE Sina Leju