Aug 25, 2021 | Business
The board (the “Board”) of directors (the “Directors”) of DaFa Properties Group Limited (“DaFa Properties” or the “Company”, together with its subsidiaries, the “Group”; Stock Code: 6111.HK) is pleased to announce the unaudited interim results of the Group for the six months ended 30 June 2021 (the “Reporting Period”).
DaFa Properties 2021 Interim Results Highlights
(For the six months ended 30 June 2021)
— Contracted sales were approx. RMB 25.81 billion, representing a significant YoY increase of approx. 130%;
— The contracted GFA was approx. 1.59 million sq.m., representing a YoY increase of approx. 99%;
— Revenue was approx. RMB5.25 billion, representing a YoY increase of approx. 51%;
— Profit for the year was approx. RMB443.97 million, representing a YoY increase of approx. 154%;
— Total assets were approx. RMB39.55 billion, representing an increase of approx. 13% as compared to 31 December 2020;
— Net gearing ratio was approx. 56%;
— Total cash to short-term debt ratio was approx. 1.4 times;
— Liabilities to assets ratio (excluding receipts in advance) was approx. 69%;
— Declares an interim dividend of RMB4.8 cents per share for the six months ended 30 June 2021
In the Reporting Period, DaFa Properties achieved sustainable growth, performed excellently in multiple dimensions including contracted sales, land reserves, financial indicators, and its capital structure, indicating increased speed and efficiency to maintain good momentum. In the face of COVID-19, the Group continues to adhere to the “1+1+X” strategic guidance, actively deploy products and marketing, and delivering growth in both sales and profitability. The contracted sales of the Group were mainly generated from Yangtze River Delta Region and Chengyu Region where the Group has been intensively penetrating. During the Reporting Period, the Group recorded accumulated contracted sales of approx. RMB25.81 billion, increased by approx. 130% YoY; the accumulated contracted GFA grew by approx. 99% YoY to approx. 1.59 million sq.m. and the contracted average selling price increased by approx. 16% YoY to approx. RMB16,229 per sq.m..
Deep Penetration of the Yangtze River Delta Region, Positioned its Presence in the Golden Metropolitan Clusters Nationwide
During the Reporting Period, the Group adhered to the “1+1+X” strategic guidance, comprehensively deepen the development of golden metropolitan clusters nationwide such as the Yangtze River Delta Region and the Chengyu Region. At the same time, the Group enriched land reserves with a strategic land acquisition strategy and projects across different cities including Wenzhou, Ningbo, Hefei, Chengdu, Changzhou and Wuhu. Currently, the Group has 86 projects under development and completed projects, 71 of which are located in the Yangtze River Delta Region. First-and second-tier cities accounted for approx. 80% of the total saleable resources of the Group, reflecting our high quality and potential land reserves. DaFa Properties actively penetrated the presence with reasonable and attractive land costs to ensure the sustainable development of the Group’s land reserves. The Group acquired seven new land parcels with a total GFA of approx. 1.14 million sq.m..
Outstanding Profitability with a Stable and Healthy Assets Scale
Benefited from stable and healthy sales growth, the profitability of DaFa Properties has been further enhanced. During the Reporting Period, DaFa Properties recorded revenue of approx. RMB5.25 billion, representing a YoY increase of approx. 51%. Gross profit was approx. RMB1.05 billion, representing a YoY increase of approx. 51%; Gross profit margin was approx. 20.1%; Profit for the period was approx. RMB443.97 million, representing a YoY increase of approx. 154%;The Group’s assets scale has further increased, with total assets increased by approx. 13% to approx. RMB39.55 billion compared to 31 December 2020. Total equity increased by approx. 12% to approx. RMB9.87 billion compared to 31 December 2020.
Healthy Financial Performance, Adhering to “Green-tier Operation”
DaFa Properties has always strictly controlled its financial indicators while maintaining steady growth. The Group continuously managed its financial leverage and optimized its capital structure, adhering to “green-tier operation”. As at 30 June 2021, the Group’s net gearing ratio has further decreased to approx. 56%; the liabilities to assets ratio after excluding receipts in advance was approx. 69%; the total cash to current borrowings ratio remained at a sounded level of approx. 1.4 times.
Building Diversified Financing Channels Actively
During the Reporting Period, DaFa Properties actively expanded diversified financing channels while maintaining a good relationship with numerous banks and financial institutions. During the Reporting Period, the Group received new integrated credits by Ping An Bank and Agricultural Bank, exploiting abundant and stable sources of funds for long-term development. On 23 August 2021, DaFa received offshore commercial bank loans for the first time. The Group was granted a US$30 million term loan facility from the Hang Seng Bank, fully demonstrating the recognition and confidence from the capital market to the Group.
Mr. GE Yiyang, Chairman of DaFa Properties said: “Looking ahead to the second half of 2021, ‘Houses are for living but not for speculation’ is still the main theme; the central and local governments have intensively introduced austerity policies to stabilise market expectations. However, with the continuous promotion of new urbanization with people as the core, the demand in the real estate market remains strong. In the face of the growth trend of ongoing upgrade, the Group will continue to adhere to the ‘1+1+X’ strategic guidance, actively deploy products, marketing and investment, and comprehensively deepen the development of golden metropolitan clusters nationwide, such as the Yangtze River Delta Region and the Chengyu Region. At the same time, the Group will enrich land reserves with strategic land acquisition strategy and actively expand the diversified domestic and overseas financing channels, while continuously optimising the financial structure, reducing the financing costs, strictly managing the financial risks in adherence to ‘green-tier operation’. The year 2021 marks the 25th anniversary of the establishment of DaFa Properties, and the Group will also usher in the third anniversary of listing in the second half of the year. While strengthening the concept of shareholder value management, we will integrate shareholder value throughout the whole cycle of investment, operation, budget and incentives, with a view to enhancing the overall competitiveness of the Group and ensuring its healthy and stable development.”
About DaFa Properties Group Limited
DaFa Properties Group Limited (DaFa Properties), incorporated in 1996 and headquartered in Shanghai, is a real estate developer specializing in developing and selling residential properties mainly in the Yangtze River Delta Region and Chengdu-Chongqing Metropolitan Area. The Group has vigorously practiced the brand positioning of “Design for Life” and upheld the business philosophy of “Integrity, Innovation, Pursuing Excellence” for years, provided customers with quality properties and created specific living scenarios through high-quality real estate properties. As of 30 June 2021, the Group, together with its joint ventures and associates, had 86 projects under construction and completed in total, of which 71 are based in the Yangtze River Delta Region. As a “pleasant living service provider”, DaFa Properties has built its sound reputation, thanks to its 25 years of extensive industry experience, outstanding product quality, and product portfolios. It will continue to unremittingly dedicate itself to build better city life, improve living quality, and raise residential experience standards.
For more information:
Investor Relations Department of DaFa Properties Group Limited
Alice WANG
Tel.: (852) 3976 8600
Email: ir@dafaland.com
Citigate Dewe Rogerson
Linda PUI
Tel: (852)3103 0118 / 9700 0178
Email: dafa@citigatedewerogerson.com
Topic: Press release summary
Jun 18, 2021 | Books, Business
American Properties Realty, Inc. will donate $100 to Fulfill with every new home sold at Heritage at Middletown.
By: American Properties Realty, Inc.
Furnished model at Heritage at Middletown.
ISELIN, N.J. – June 17, 2021 – PRLog — Let’s fight hunger together – one homebuyer, one family, one person at a time. American Properties Realty, Inc. has announced that it will donate $100 to Fulfill for every home sold at Heritage at Middletown.
“We are so excited to be able to give back to the community by supporting Fulfill’s mission to alleviate hunger and build food security in Monmouth and Ocean Counties,” said Paul Csik, Senior Vice President of American Properties Realty, Inc. “All people at all times should have access to enough nutritious food to maintain an active and healthy lifestyle.”
In 2019, Fulfill has provided 12.3 million meals through over 280+ food pantries and soup kitchens; served 187,000 meals for kids through backpack, after-school, and summer food programs, and helped 13,195 people through mobile pantries, including seniors and veterans. The nonprofit has also provided tax refund assistance, SNAP enrollment assistance, culinary training, affordable healthcare and more. “With .96 cents of every dollar donated going directly to food and services, we are pleased to be able to help Fulfill strengthen our communities,” Csik added.
With every home sold, American Properties will donate $100 in the homebuyer’s name to Fulfill. For those looking to get into a new home quickly and take advantage of low interest rates, Csik urges you to learn more about Heritage at Middletown in Middletown, NJ. “Now is the time to make your move,” Csik added.
Heritage at Middletown is a new community of 3-4-bedroom townhomes located at 2507 Evans Lane in Middletown. Priced from the low $500s, Heritage at Middletown has opened its third phase of homes. Home designs feature three to four bedrooms, two-and-a-half to three-and-a-half baths and up to 2,621 sq. ft. of living space. Construction has commenced on a community clubhouse. Furnished models are now open. Those interested can visit https://americanproperties.as.me/schedule.php to schedule a private tour. Be sure to ask about recently released home sites. To learn more, call Kelly Flanagan at 732-533-5150 or kflanagan@americanproperties.net.
“Anyone interested in purchasing a new home at Heritage at Middletown should reach out to us directly,” said Csik. “Our team is ready to help find you find your dream home.”
About Fulfill FoodBank, formerly The FoodBank of Monmouth and Ocean Counties Fulfill’s mission is to alleviate hunger and build food security in Monmouth and Ocean Counties and to make sure that all people at all times have access to enough nutritious food to maintain an active and healthy life. Follow Fulfill on Facebook, Twitter, LinkedIn, Instagram and YouTube, and share posts to help raise awareness about hunger. To donate or volunteer, go to fulfillnj.org. Sponsorship opportunities are also available.
About American Properties Realty, Inc.
American Properties Realty, Inc., A Licensed Real Estate Broker, continues its proud 45-year tradition of introducing award winning communities that provide excellent quality, convenient locations and affordable pricing for New Jersey homebuyers. The Principals of American Properties Realty, Inc., have been involved in the creation of over 10,000 residences ranging from luxurious estate homes to award-winning master planned communities of apartments, condominiums, townhomes and single-family homes.
May 20, 2021 | Books, Business
Dc Station
OAKLAND, Calif. – May 18, 2021 – PRLog — Harvest Properties (“Harvest”) and an affiliate of Cerberus Capital Management, L.P. (“Cerberus”) have sold DC Station, a 385,000-square-foot Class A office building and adjacent seven-level parking structure in Daly City, CA.
Oakland, CA-based real estate investment firm Harvest and Cerberus, a global leader in alternative investing, acquired the asset located at 2001 Junipero Serra Boulevard in April 2018. DC Station benefited from an attractive transit-oriented location, large and flexible floorplates, recently completed on-site amenities, and overall high asset quality relative to its replacement cost and other comparable trades in the marketplace.
Approximately 70 percent leased at the time of acquisition, the partnership implemented a robust leasing program that resulted in the execution of more than a dozen leases, exceeding 105,000 square feet to bring the occupancy to more than 90 percent by early 2020.
“DC Station was an under-leased but high-quality, transit-oriented asset that we were able to acquire at a compelling basis,” said John Winther, Managing Partner at Harvest Properties. “Our acquisition thesis was not only proven through our successful office leasing but later expanded upon by getting ahead of migration trends in both the office and the life science segment of the market.”
The partnership identified strategic opportunities with the expansion and migration of life science beyond South San Francisco into neighboring markets, including Daly City. Completing the necessary feasibility analyses to confirm the building could accommodate life science users, the partnership paved the way for a potential conversion of the asset for life science use to capitalize on both the leasing and capital markets demand.
“DC Station was an attractive opportunity to acquire a high-quality, well-located property,” added Tom Wagner, Head of North American Real Estate at Cerberus. “With Cerberus’ and Harvest’s combined expertise, we were able to unlock significant value through property enhancements and strategic leasing efforts. We look forward to working with Harvest on future projects.”
About Harvest Properties
Harvest Properties is a vertically integrated, full-service commercial real estate investment firm that specializes in the acquisition, entitlement, development, management of commercial property, primarily through joint-venture investments in Northern California. Over the last decade, Harvest has become an established leader in the marketplace by generating attractive returns for its financial partners, providing creative solutions and outstanding service. Harvest Properties’ portfolio comprises approximately ten million square feet of office, life science, and industrial properties in the San Francisco Bay Area. For more information, please visit http://www.harvestproperties.com.
About Cerberus
Founded in 1992, Cerberus is a global leader in alternative investing with approximately $55 billion in assets across complementary credit, private equity, and real estate strategies. We invest across the capital structure where our integrated investment platforms and proprietary operating capabilities create an edge to improve performance and drive long-term value. Our tenured teams have experience working collaboratively across asset classes, sectors, and geographies to seek strong risk-adjusted returns for our investors. For more information about our people and platforms, visit us at www.cerberus.com.
Contact
Bruce Beck
DB&R Marketing Communications, Inc.
***@dbrpr.com
Apr 1, 2021 | Business
Ideal Homes International is offering a 10% discount on a limited number of luxury condos for sale in Florida. Management rents it out when you’re not there to pay off the mortgage.
Orlando, FL, 31st March 2021, ZEXPRWIRE – By purchasing one of these luxury properties, you can take the family to Disney World and use your vacation dollars that would otherwise be spent on hotels to build wealth.
“An investment at the luxurious resort in Orlando, Florida is already a good deal. It’s even better now with our exclusive offer of an extra 10% discount off a limited number of two or three-bedroom condominiums. Units start at $337,000 before the discount,” said Ideal Homes International President Chris White.
When you’re not there, management will rent it out to pay your mortgage costs with maybe some extra money in your pocket depending on how often you use it. Now, you don’t have to sacrifice your retirement savings for a Florida dream.
It’s a hands-off investment. The management takes care of everything for a cut of the rental income. You don’t have to worry about any bookings, maintenance, insurance or upkeep. If something goes wrong with your unit, it’s all covered and part of the management’s guarantee.
Situated near Florida’s Disney, Universal Studios and SeaWorld theme parks and an hour from the ocean. The resort is on a lake and has plenty of activities for the whole family with two swimming pools, beautiful water park, lazy river, surfing simulator, spa, restaurants and bar.
“The resort is very safe in a gated community. Parents could leave their kids at the waterpark while having a nice meal at one of the four onsite restaurants. There’s nice music playing all the time. There are also watersports, kayaks and paddleboards and you can go fishing with the kids at the lake,” said White.
You can stay and not worry about transportation. The resort is only six miles away from Disney and 30 minutes to Universal theme park with free shuttles. The condominium units also have laundry room facilities and a kitchen so you can cook for yourself and save money.
With the exclusive 10% discount offered by Ideal Homes International, you could buy a $337,000 two-bedroom condominium for $303,300. With at least 40% down or a $122,000 deposit, you carry a $181,300 mortgage at 5%.
The rentals would probably more than cover your mortgage costs with some extra money in your pocket. Before costs rents are returning about 7% a year.
When you purchase a unit, you could use it for two to four weeks a year for yourself, kids, grandkids and have a nice holiday while rentals pay off your mortgage when you’re not there. If you stay for a month during peak times, it will lower your returns compared to someone who never uses it.
At the moment, Florida has a booming real estate market that could continue to grow after the pandemic. If you decide to sell the condominium in five to eight years, it’s likely to increase in value.
“If you decide to sell it for $500,000, it’s possible to make about $206,000. It could be higher if the rentals managed to pay off some of the mortgage. That depends on the rental market and how often and when you use it,” said White.
This is a great way to build up your retirement fund, while taking your family on vacation at one of the most luxurious places in Florida.
You don’t have to worry about finding renters. There is lots of demand from tourists wanting to stay at the resort with the 22 million people visiting the area every year. Around Christmas or Easter, the resort is fully booked. Most of the time it’s 75% booked with renters spending about $300 a night.
Condominium ownership is also a great opportunity for people in the U.K. thinking about immigrating to Florida for its great year-round weather and lower tax rates.
White will be giving Zoom four-hour presentations of the resort with his staff, management, and a mortgage broker from April 5 – April 9 from 10am – 8pm EST.
The resort will also be adding new units that can be secured for 10% down. During the presentation, White will also be offering a number of incentives such as a 10-day package for you and your family to enjoy Disney Theme Parks and more.
“We can even arrange mortgages right on the spot making it easier for you to take part in this Florida dream vacation investment,” said White.
If you’re interested in attending the presentation see the Ideal Homes International website for more details. You can also contact Chris White directly by phone or on WhatsApp at +351 289 513 434 or [email protected].
Youtube Video – Click Here
FOR FURTHER INFORMATION:
Company Name: Ideal Homes International
Contact Person: Chris White
Email: [email protected]
Phone: +351 289 513 434
City: Orlando
State: FL
Country: United States
Website: Click Here
Mar 28, 2021 | Business
Continental Properties Company, Inc. (“Continental Properties”) a privately held national multifamily and commercial real estate developer, owner, and operator has announced the closing of its first development fund, Continental Properties Real Estate Development Fund I, L.P. The fund closed in January with a total raise of $180 million of equity and will invest in suburban apartment communities developed and managed by Continental Properties with a total projected construction cost of over $700 million.
“We believe strongly in our suburban multifamily strategy, and our investors have benefited greatly from the growth in suburban employment and population. Stronger rent growth and demographics favor developing and owning suburban multifamily real estate. We are confident in the markets we have targeted for development and are pleased with the strength of our development pipeline. The Development Fund gives Continental and its investors an opportunity to invest in a geographically diverse portfolio of high-quality apartment communities,” said Jim Schloemer, Founder and Chairman of Continental Properties and Treasurer of the National Multifamily Housing Council.
“Continental Properties has been executing on its suburban multifamily strategy with great success for over 20 years and recognizes that long-term fundamentals will support multifamily development well into the future. Trends in renter preferences, combined with the supply and demand metrics in our targeted development markets, continue to support our suburban strategy and positions us well to achieve outstanding returns for our investors,” stated Dan Minahan, President and COO.
Interest in the Development Fund surpassed initial expectations. “We saw very strong interest from both our long-time investors who have trusted Continental with their investments for years as well as from new investors looking for ways to diversify their portfolios and invest with a proven real estate sponsor. We are grateful for the continued trust that our investors have placed in us, and we are highly committed to delivering outstanding results,” commented Ed Madell, EVP and CFO.
Continental also recently launched Continental Properties Real Estate Income Fund II, L.P., a portfolio of up to 10 stabilized, income-producing multifamily properties developed and operated by Continental. The first closing is expected to occur in April 2021 with approximately $200 million of equity. For additional information, please reach out to Continental’s Investor Relations Team at (262) 502-5500 or IR@cproperties.com
About Continental Properties
Continental Properties is a Wisconsin-based national developer and operator of multifamily communities, retail, and hospitality properties. Since its inception in 1979, Continental Properties has developed over 90 apartment communities encompassing more than 25,000 apartment homes in 19 states. Currently, Continental Properties owns and manages 60 communities comprised of over 16,200 homes in 16 states. For more information about Continental Properties, visit www.cproperties.com.
Inquiries
Media: media@cproperties.com Continental Properties Company, Inc. (262) 502-5500
Investors: IR@cproperties.com Continental Properties Company, Inc. (262) 502-5500
Source: Continental Properties Company, Inc.
