Yanlord sells all units at Shanghai Poetic Villa inaugural launch, bags 3.2b yuan in pre-sales
REAL estate developer Yanlord Land Group Z25 : Z25 0% on Monday (Jan 24) announced that it has sold all 514 apartment units during the inaugural launch of its Poetic Villa project in Shanghai.
The group bagged pre-sales totalling some 3.2 billion yuan (S$679.7 million) from a total gross floor area of 46,726 sq m at an average selling price of 67,725 yuan per sq m.
This brings Yanlord's total contracted pre-sales from its recent 2 launches in Shanghai - namely Yanlord Arcadia and Poetic Villa - to about 7.2 billion yuan.
Said Yanlord's chief executive Zhong Sheng Jian: "We are heartened by the strong market support received by Poetic Villa in Shanghai which reflects the continued strong local upgrader demand in Shanghai.
"The recent two launches further underscore our continued confidence in the Shanghai real estate market and, capitalising on our track record and brand equity in quality residential development, we will seek to strategically deepen our footprint within the Yangtze River Delta."
Shares of Yanlord ended Monday unchanged at S$1.14.
A NEWSLETTER FOR YOU
Property Insights
Get an exclusive analysis of real estate and property news in Singapore and beyond.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won