Minmetals Land contracted sales up 290% at HK$1.8bln

The groups average selling price during the first 9 months up 96% to HK$13,252 per sq.m.

Minmetals Land Limited (the “Company”) announced on Tuesday its sales performance from January to 3rd October 2010, with contracted sales revenue grew approximately 290% over 2009 full year to approximately RMB1.55 billion (HK$1.8 billion), while contracted GFA sold amounted to approximately 136,343 sq.m., according to a Minmetals report.

The average selling price during the reported period reached approximately RMB11,400 (HK$13,252) per sq.m., an increase of over 96% from RMB5,800 (HK$6,742) in 2009. Upon completion of the latest asset injection by China Minmetals Corporation, the Company will have a land bank of approximately 4 million sq.m.