DGAP-News: Newly set target for real estate price increase supports Madison Property's core business
(firmenpresse) - DGAP-News: Madison Property AG / Key word(s): Market Report
Newly set target for real estate price increase supports Madison
Property's core business
05.04.2011 / 12:21
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Based on the stabilizing real estate market measures of the Central
Government, the Local Government of Qingdao, China has announced its target
for the price increase rate to be below 12% for newly built residential
properties in the year 2011. Madison Property AG expects this to have a
positive impact on its core business.
According to the Local Government, the price increase rate for newly built
residential properties in Qingdao should not exceed the growth of annual
disposable income in the urban areas. Since the anticipated growth of
average annual disposable income for 2011 amounts to approximately 12%, the
price increase rate for residential real estate was set accordingly. In
2010, the growth rate of annual disposable income was 11.8% and the price
increase rate of newly built residential properties was 6.6%.
Due to the fact that Madison focuses its business activities on the
development and sale of residential properties in Qingdao, the Management
expects a strong increase of sales prices, which will be reflected in
increasing revenues and profits in the financial year 2011/12. In addition,
Madison further benefits from the Government support of affordable
high-quality small and medium sized residential properties.
'The PRC Government stabilization measures for real estate markets do not
have a negative impact on Madison Group. The fact, that a clear price
increase target was set, provides us with a stable calculation basis for
our residential real estate business in the coming financial year and
contributes to a healthy development of the real estate market' affirms
Qingtong Tian, CEO and founder of Madison Property.
About Madison Property AG
Madison Property AG (ISIN DE000A0V9KR3 / WKN A0V9KR / Ticker MPD) is a
German stock corporation with its registered legal seat in Berlin. It is
the holding company of Madison Property Group Limited which operates as a
large scale property developer with its local subsidiaries in China, mainly
in the Shandong Province and the municipality of Chongqing. Founded in
1998, Madison already completed and successfully sold 14 projects/project
phases. It is focused mainly on residential properties with high quality
and travel as well as leisure properties. Madison is recognised as a Class
I property developer by the People's Republic of China Ministry of Housing
and Urban-Rural Development and can therefore undertake projects nationwide
without limitation on the construction scale.
For further information please contact:
Kirchhoff Consult AG
Sebastian Bucher
T: +49 40 60 91 86 18
F: +49 40 60 91 86 60
E-Mail: sebastian.bucher(at)kirchhoff.de
or visit www.madisonproperty.de
Disclaimer
This publication constitutes neither an offer to sell nor a solicitation to
buy securities of Madison Property AG.
This document is not an offer of securities for sale or a solicitation of
an offer to purchase securities in the United States. The shares of Madison
Property AG (the 'Shares') have not been registered under the U.S.
Securities Act of 1933, as amended (the 'Securities Act') and may not be
offered or sold in the United States unless registered under the Securities
Act or pursuant to an exemption from such registration. There will be no
public offering of the Shares in the United States and the Shares will not
be registered under the Securities Act.
This document is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as 'relevant persons'). The Shares are
only available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such securities will be engaged in only with,
relevant persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents.
End of Corporate News
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05.04.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Media archive at www.dgap-medientreff.de and www.dgap.de
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118458 05.04.2011
Datum: 05.04.2011 - 12:21 Uhr
Sprache: Deutsch
News-ID 33712
Anzahl Zeichen: 0
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Kategorie:
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