CapitaLand China Holdings, a wholly-owned subsidiary of CapitaLand, has sold about 60 percent of the 220 apartments launched for sale at The Beaufort located in Beijing.

The company launched a residential tower at The Beaufort on Christmas Day, under the second stage of marketing for the project.

So far, buyers have paid an average of 38,500 yuan psm for the homes.

The fully-fitted units consist of one-bedders, two-bedders and studio apartments, with prices ranging between 2.3 million yuan and 4.1 million yuan.

To date, CapitaLand China has earned 1.29 billion yuan in total sales from The Beaufort.

The first stage of the launch took place earlier this year, when 467 bare-shell units were released at an average price of 27,000 yuan psm.

The project, situated at Fourth Eastern Ring Road, will offer 1,027 units ranging from studio apartments to four-bedders across four towers.

Jason Leow, chief executive of CapitaLand China, said the central government has kept the real estate market healthy by introducing measures to curb speculation and guarantee sustainability.

“In the residential sector, the market demand remains strong, supported by genuine homebuyers and robust economic fundamentals,” he said.

This year, the company has sold about 2,800 units across 11 projects. It also hopes to release around 4,000 homes for sale in 2011.

CapitaLand China plans to launch units in the remaining two residential towers at The Beaufort in the second half of next year.

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