Yanlord's contracted presales hit $9.56b in August

Its total contracted presales rose 73.5% in the first eight months of 2020.

Yanlord Land Group saw its total contracted presales rise 73.5% or approximately $9.56b (RMB47.765b) in the first eight months of 2020 compared to the same period in 2019, the company said in a bourse filing.

Of this, approximately $839.26m (RMB4.194b) of subscriptions sales of the group together with its joint ventures and associates was recorded as of 31 August and is expected to be turned into contracted pre-sales in the following months.

Total contracted presales from commercial unites and car parks for August amounted amounted to around $2.4b (RMB12.026b), with a contracted gross floor area (GFA) of 280,819 sqm.

The cities of Suzhou, Nanjing, Shenzhen, Shanghai, and Hangzhou were identified as the key contributors to the groups’ contracted presales. The aggregate contracted pre-sales in these five cities reached approximately $7.48b (RMB37.416b), and accounted for approximately 78.5%of the total contracted pre-sales of the group.