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![(2) Outline of condominium plan [Tokyu Land Corp.]](../images/18.jpg)
Next, I will outline our plan for selling condominiums.
We plan to sell 2,597 units, up 230 units year on year, and to record revenue of ¥129.1 billion for the fiscal year ending March 31, 2014 (Tokyu Land Corporation).
The plan includes the block sale of rental residential properties (105 units) for ¥3.7 billion.
The expected contracts to sales ratio, except for block-sale properties, stands at 86%, up 5 points year on year.
The inventory of completed units remains at a low level, at 122 units as of the end of September 2013.
Meanwhile, we expect the gross margin for the fiscal year ending March 31, 2014 to be approximately 20%.
We acquired land for ¥29.9 billion for an accumulated total of 2,027 units in the first six months of the fiscal year ending March 31, 2014. As a result, we have land consisting of a total of 7,600 units (pipelines) to be delivered starting in the fiscal year ending March 31, 2015.
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