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Yanlord records 29.8b yuan in property pre-sales for first six months of 2020

CHINESE property developer Yanlord Land Group recorded 29.8 billion yuan (S$6 billion) in total contracted pre-sales from residential units, commercial units and car parks in the first half of the year, a 65 per cent increase from the previous year.

The pre-sales were for a contracted gross floor area of 831,457 square metres (sq m), a 30.7 per cent increase from the year before.

The developer also disclosed that it had 4.0 billion yuan of subscription sales as of June 30. This is expected to be subsequently turned into contracted pre-sales over the following months, the company said on Monday.

The group's total contracted pre-sales for the month of June was 10.9 billion yuan - 59.5 per cent higher than the same period last year - for a contracted gross floor area of 304,710 sq m.

Five cities in China - Nanjing, Suzhou, Shenzhen, Nantong and Hangzhou - accounted for nearly 84 per cent of the total contracted pre-sales of the group for the six months. 

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Yanlord’s shares closed at S$1.31 on Monday, up seven Singapore cents or 5.65 per cent. 

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