Yanlord nets 1.43b yuan in pre-sales at launch of Yanlord Gardens

REAL estate developer Yanlord Land Group has garnered around 1.43 billion yuan (S$0.28 billion) in pre-sales at the inaugural launch of its Yanlord Gardens development in Nantong.

In a filing to the Singapore Exchange on Tuesday, Yanlord said it sold all 357 apartment units that were available for sale within the first day at an average selling price of approximately 28,570 yuan per square metre (sq m) for 50,235 sq m gross floor area sold. 

Zhong Sheng Jian, Yanlord's chairman and chief executive officer, said: "Strong upgrader demand and healthy inflows of populations into first-tier and second-tier cities in the PRC continue to drive demand for high-quality residential developments. Capitalising on the positive buyer sentiment, we will continue to launch new projects that will cater to the demand of our discerning customers."

Surrounded by three natural parks, Yanlord Gardens has a plot ratio of 1.8 and benefits from the Nantong government initiatives to develop the area into a model for technology company development and innovation.