Country Garden hit hundred billion sales

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Country Garden Holdings has surpassed its annual sales target of RMB62 billion (RM33 billion), making it the latest member of China’s hundred billion sales real estate developers following China Vanke, China Poly Real Estate and China Overseas Land.

On 5 December, Country Garden revealed that total sales hit RMB96.7 billion (RM51.2 billion), up 130 percent year-on-year, while total building area sold stands at 14.65 million sq m, or an increase of 114 percent year-on-year.

The robust sales witnessed by Country Garden is deemed a miracle in the real estate market. Specifically, Country Garden Golden Beach sold over 2,100 units in the last 11 months; recorded over 30,000 visitors during the Ten Miles Coast launch; and posted single day sales of RMB2 billion (RM1.06 billion) and RMB5 billion (RM2.6 billion) at Country Garden Jiang Shu and Lan Zhou New City projects respectively.

Analysts said customers have been choosing Country Garden – which adheres to the principle “build the best house with affordable prices” – due to its competitive prices and good services.

The company’s “Everyone Can Sell” and “Achievement Sharing” scheme has also helped it achieve hundred billion sales within just a year.

“Achievement Sharing” concept binds the benefits of employees, management team and shareholders, while “Everyone Can Sell” allows everyone to easily draw up detailed sales and marketing plans to sell Country Garden properties.

For this year, Country Garden plans to focus on incentive mechanism to promote sales, said Country Garden CEO Mo Bin.

With Country Garden’s first overseas project, Country Garden Danga Bay, achieving RMB10 billion (RM5.3 billion) sales, other China real estate developers have started to make overseas investments.

R&F Properties, for instance, acquired 116 acres of ancestral land in Johor Bahru for RMB8.5 billion (RM 4.5 billion).

Meanwhile, analysts attribute Country Garden’s success in Malaysia to three reasons – its advanced sales and marketing concept, good geographical location and low selling strategy.

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