Yanlord Land Group has posted contracted pre-sales of RMB2.54 billion ($522.8 million) from residential and commercial units, as well as car parks, over contracted gross floor area (GFA) of 79,681 sqm for the month of February.
Contracted pre-sales during the month stood 110.3% y-o-y higher, while GFA increased 140.1% y-o-y compared to the corresponding period a year ago.
That said, m-o-m, the figures stood 51.4% lower than January’s contracted pre-sales of RMB5.22 billion.
GFA, too, fell 50.1% m-o-m compared to January’s GFA of 159,718 sqm.
During the month of February, the total contracted pre-sales of other property development projects under the Group’s project management business bearing the “Yanlord” brand name was approximately RMB180 million on contracted GFA of 6,275 sqm.
In addition, a total of approximately RMB2.86 billion of subscription sales was made by the group together with its joint ventures and associates as at Feb 28. These are expected to be subsequently turned into contracted pre-sales in the following months.
In February, some 71.2% of the contracted pre-sales were contributed by the Chinese cities of Suzhou, Shanghai, Nanjing, Nantong and Hangzhou, in that order.
Shares in Yanlord closed 1 cent lower or 0.9% down at $1.15 on March 5.
