Madison Property AG
Madison Property AG: Sales process on track
Madison Property AG / Key word(s): Miscellaneous 24.01.2011 / 10:06 * Three new projects entered pre-sales phase as planned in December 2010 * 86% of currently available units already sold or reserved for sale * Handover of projects and realisation of revenues between April 2011 and February 2012 * Madison awarded as 'Top 10 Real Estate Brand of Qingdao' Berlin/Frankfurt, 24 January 2011 - Three new residential projects of Chinese property developer Madison Property AG (ISIN DE000A0V9KR3 / WKN A0V9KR / Ticker MPD) have entered into pre-sales as planned in December 2010. By now, 86% of the total available units of all three projects have already been sold or reserved for sale. Furthermore, Madison has been awarded for being a 'Top 10 Real Estate Brand of Qingdao' by Qingdao News Web. In total, Madison already sold or received reservations for 954 of the total 1,281 units, of which only 1,068 are currently authorised for pre-sales of the 'Green Bay Phase 1' project, 92 of the 112 units of 'Fragrance Town Mountain' project and 29 of the total 33 units of 'The Villa with Springs'. These pre-sales and reservations represent in sum a sales price of EUR 72.1 million. EUR 47.2 million of these total sales of EUR 72.1 relate to projects, which are planned to be completed within the current financial year, which ends April 30, 2011. Therefore, these sales can be realised within the current financial year. Together with EUR 20.0 million contributed by another pre-sold project, over 95 % of the targeted revenue of around EUR 69.0 million for the current financial year are secured. 'The pre-sales phases of all three projects are running according to plan and the achieved sales prices are very attractive. We are on track to reach our sales target for the current financial year', says Qingtong Tian, CEO and founder of Madison Property. All three projects are located in Qingdao, Shandong Province, and provide residential units with a high quality standard. 'The Villa with Springs' offers a total of 71 units with saleable GFA of 24,878 sqm, while 'Fragrance Town Mountain' offers 220 units with saleable GFA of 24,550 sqm and 'Green Bay Phase 1' offers 1,281 units with 123,860 sqm of total saleable GFA. About Madison Property AG Madison Property AG is a German stock corporation under the laws of Germany with its 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 Dr. Kay Baden T: +49 40 60 91 86 34 F: +49 40 60 91 86 60 E-Mail: baden@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 --------------------------------------------------------------------- 24.01.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 109760 24.01.2011
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