Yanlord's Chinese residential project sold out at $529.57m

It sold all 636 units on their first day launch.

Real estate developer Yanlord announced that it sold out all units at Oasis New Island Gardens in Nanjing, China for approximately $529.57m (RMB2.59b).

According to a press release, all 636 apartment units were sold out during the first day of sales for an average price of $7360.81 (RMB36,000) per square metre for the 72,000 sqm floor area.

“Strong upgrader demand and healthy inflows of populations into first tier and core second tier cities continue to drive demand for high-quality residential developments. Yanlord’s competitive advantage remains in the delivery of high-quality developments that continually meet and exceed customer demands in first and second tier cities,” said Yanlord chairman and CEO Zhong Sheng Jian.