RESIDENTIAL PROPERTY | Staff Reporter, Singapore

CapitaLand's China home sales hit $396.7m in October

The Metropolis in Kunshan saw the highest sales of $150.29m amongst the four launches.

CapitaLand sold 1,506 residential units in China for a total of $396.7m in October, coinciding with the ‘Golden September Silver October’ which is China’s traditional season for soaring new home sales, an announcement revealed.

Amongst its four residential launches, The Metropolis in Kunshan saw the highest sales worth $150.29m (RMB758m) as it sold over 90% of its 324 units. This was followed by La Botanica in Xi’an which divested 97% out of 535 units for $115.99m (RMB585m), Parc Botanica in Chengdu, with all 388 units sold out for $65.83m (RMB332m), and The Lakeside in Wuhan, which divested over 90% of its 372 units for $63.84m (RMB322m).

Also read: CapitaLand buys $1.18b property in China

The firm said that the sales value is considered as its highest over a 30-day period in 2018.

CapitaLand has about 2,000 residential units in the pipleline awaiting launch depending on market conditions. The firm has sold 97% of its launched units in H1 and handed over close to 3,000 units.

For H2, CapitaLand expects to hand over more than half of the 8,000 units valued at a total of $3.2b (RMB16.2b) which had been sold in China.

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