China Ov obstruction light erseas Land to spend HK$13.4 bln on land
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China Ov obstruction light erseas Land to spend HK$13.4 bln on land
China Ov obstruction light erseas Land to spend HK$13.4 bln on land

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China Overseas Land to spend HK$13.4 bln on landPublished: 25 Mar 2009 17:20:19 PST<p class="authorInfor"]</p]<!--begin CK content--]<P]Mar. 26, 2009 (China Knowledge) - China Overseas Land &amp; Investment Ltd&lt;688&gt; this year plans to purchase more than 4 million square meters (sq m) of land for HK$13.4 billion out of a total capital expenditure of HK$32.6 billion, said an official of the firm, sources reported.</P]<P]The Hong Kong-listed enterprise intends to sell 3.5 million sq m for HK$28 billion in 2009. </P]<P]As of Mar. 22, the company had HK$8 billion in contracted sales income, said Kong Qingping, general manager of the enterprise. </P]<P]Hao Jianmin, vice president of the company, noted that the enterprise expects to complete property floor area of 5 million sq m this year, 92.6% more than last year. </P]<P]Last year, the real estate company hit HK$5.05 billion in net profit and HK$18.89 billion in operating revenue, China Knowledge reported.<BR]</P]
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