Yanlord pre-sales up 69.5% to $12.7b in 10M 2020

The group reported approximately $1.89b in presales in October alone.

Yanlord Land Group’s total contracted pre-sales rose 69.5% in the first ten months of the year to reach approximately $12.7b (RMB62.48b) compared to the same period in 2019, according to the group’s latest operating statement.

In October, Yanlord and its joint ventures and associates reported $1.89b (RMB9.28b) in total contracted pre-sales from residential and commercial units, and car parks. This is equal to a contracted gross floor area (GFA) of 271,141 square meters (sqm).

The group also recorded an estimated total of $658.55b (RMB3.23b) of subscription sales as of 31 October, which is expected to be turned into contracted pre-sales in the following months.

Key contributing cities include Naning, which made up 21.3% of the pre-sales; Suzhou, at 21%; and Shenzhen, Hangzhou, and Shanghai at 14.9%, 10.5%, and 9.4%, respectively.

The aggregate contracted pre-sales in these five cities is approximately $9.8b (RMB48.16b), or 77.1% of the total contracted pre-sales of Yanlord.