Yanlord Group collects $1.02b from pre-sales in Shanghai apartment launch
More than 1,700 eligible customers registered to buy an apartment unit.
SGX-listed Yanlord Land Group Limited announced a 100% sellout after it collected $1.02b (RMB6.085b) pre-sales during the third batch of its apartment launch at Yanlord Arcadia in Shanghai.
The land developer also reported that 1,769 qualified customers registered to purchase an apartment unit from 28 to 29 June 2022.
Yanlord sold 372 apartment units for a gross floor area of 52,914 square metres with an average selling price of over $23,904 (RMB115,000) per square metres (sqm).
Yanlord Arcadia lies two kilometres (km) from North Bund and 4 km from Lujiazui financial centre. The development occupies a site area of 69,400 sqm and a gross floor area of 183,215 sqm, and it plans to build 1,171 residential units in 16 towers.
According to its website, it began construction of the development in September 2020.
$1 = RMB4.81