Property developer Surbana Land has achieved a new one-day company sales record with 78 percent of the 922 units released in Phase 4 of its La Botanica township project snapped up.
Located in Xi’an, China, the four blocks released comprise one 30-storey and three 34-storey apartment blocks. Each unit was sold at an average price of 5,300 yuan psm (US$831.24) for a one-bedroom unit, 5,800 yuan psm (US$909.66) for a two-bedroom unit and 5,900 yuan psm (US$925.34) for a three-bedroom unit.
“We are the only developer offering quality, affordable apartments in our location for this price range, hence the good take-up,” said Puah Tze Shyang, Chief Executive of Surbana.
He noted that the launch performed well on the back of accurate product positioning, well-executed marketing aimed at young home buyers and the company’s good track record.
“We positioned our product to target first-time buyers in the age group of 25 to 35 as we knew the demand from this segment is core and much less speculative.”
Located in the Chanba Ecological District, the 135 ha La Botanica township will include a total of 24,700 homes. The project will also feature comprehensive facilities and amenities like schools, a hospital, two retail malls, parks and a clubhouse for residents.
Since November 2008, Surbana Land has released some 3,800 homes in La Botanica, with almost 90 percent sold.
To date, the group has completed and sold approximately 1,000 units.
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