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Yanlord records 18.92b yuan in property presales for first five months of 2020

CHINESE property developer Yanlord Land Group recorded 18.92 billion yuan (S$3.71 billion) in total contracted presales from residential units, commercial units and car parks for the first five months of the year, a 68.4 per cent increase over last year, it said in a bourse filing late on Wednesday.

The presales were for a contracted gross floor area of 526,746 square metres (sq m) - 41.8 per cent higher than the same period last year.

The group's total contracted presales for the month of May was 7.28 billion yuan - nearly 3.5 times last year's 2.11 billion yuan - for a contracted gross floor area of 190,226 sq m.

In its unaudited key operating figures for the five months ended May 31, the developer also disclosed that it has about 4.15 billion yuan of subscription sales, which are expected to be turned into contracted presales in the coming months.

Five cities in China - Nanjing, Suzhou, Shenzhen, Hangzhou and Tianjin - accounted for about 83.3 per cent of the total contracted presales of the group for the five months. 

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Shares of Yanlord ended Wednesday at S$1.15, up S$0.01 or 0.9 per cent.

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