CapitaLand continues to achieve strong sales for Beijing condominium

About 60% of Beaufort’s phase two units sold over Christmas weekend


Singapore, 28 December 2010 – CapitaLand China Holdings, a wholly-owned subsidiary of CapitaLand, achieved strong sales at its high-end residential project in Beijing over the Christmas weekend. The Beaufort condominium is located within walking distance to Beijing Chaoyang Park, one of China’s largest city parks.

For Beaufort’s phase two launch, a residential tower comprising 220 units was released for sale on 25 December 2010. To-date, about 60% of the units have been sold at an average price of around RMB38,500 (S$7,500) per square metre. Homebuyers had a choice of studio, one- and two-bedroom apartments priced between RMB2.3 million (S$450,000) and RMB4.1 million (S$802,000) each.

The strong phase two sales at Beaufort follows a successful phase one launch earlier this year. In phase one, CapitaLand China released 467 units at an average price of RMB27,000 (S$5,600) per square metre. These units have been fully sold. To-date, the total sales value achieved for the two phases amount to RMB1.29 billion (S$252.3 million).

Mr Jason Leow, CEO of CapitaLand China Holdings, said: “The Chinese government has ensured a vibrant property market through a series of measures to curb excessive speculation and ensure market sustainability. CapitaLand’s balanced portfolio of properties in the different sectors have benefited from this. In the residential sector, the market demand remains strong, supported by genuine homebuyers and robust economic fundamentals. The strong sales at

Beaufort is testament that homebuyers are drawn to homes that are well-located near the heart of the business district, and in close proximity to amenities and transportation networks. We target to launch the remaining two residential towers in Beaufort in the second half of 2011. For 2010, CapitaLand China sold a total of about 2,800 units, located across 11 projects. We target to launch about 4,000 homes for sale next year.”