Yanlord bags 4.02b yuan in pre-sales in second phase of Shanghai project launch

Annabeth Leow

Published Thu, Jan 20, 2022 · 08:31 PM

MAINBOARD-LISTED Yanlord Land Group has sold all 226 apartments in the second phase of a Shanghai residential project's launch, the group announced on Thursday (Jan 20).

Yanlord Land's Yanlord Arcadia development has clinched contracted pre-sales of about 4.02 billion yuan (S$852.5 million) from the launch, which opened on Tuesday.

The units, which have a combined gross floor area of more than 34,900 square metres, were transacted at an average selling price of about 115,000 yuan per sq m.

Yanlord had previously sold 299 units for 5.08 billion yuan of pre-sale transactions in the first sales phase in November 2021. Yanlord Arcadia, in Shanghai's Yangpu District, is expected to comprise 1,171 residential units across 16 towers when completed.

Yanlord shares closed on Thursday at S$1.14, up S$0.01 or 0.9 per cent, before the announcement.