China Overseas Land and Investment Ltd (COLI), a major property company listed in Hong Kong, announced Tuesday that its property sales in February amounted to HK$1.83 billion (US$236 million), surging 61.2% over the same period last year.

The figure also represent an increase of 33.7 percent from January 2009. From January to February 2009, the total sales of properties amounted to HK$3.19 billion (US$503 million), up 69.4 percent over the corresponding period of last year.

No new land was acquired in February 2009. Currently, the Company has a total land reserve of 25.27 million square meters, which is sufficient to meet the requirement of the Company's development in the coming 4 to 5 years, said the company.

COLI was listed in Hong Kong in August 1992. It went public by using the assets of its business in Hong Kong. Up to date, the Company is engaging in property development in 20 Mainland cities, as well as in Hong Kong and Macao.

(Xinhua News Agency March 11, 2009)