Yanlord’s contracted pre-sales down 70% to 1.1 billion yuan in May 2022
Kelly Ng
CHINESE property developer Yanlord Land Group logged 1.1 billion yuan (S$227.2 million) in total contracted pre-sales in May 2022, down 70 per cent from the 3.8 billion yuan it recorded a year ago.
The pre-sales were for a contracted gross floor area (GFA) of 47,695 square metres, a 62.5 per cent fall from May 2021, according to the group’s unaudited key operating figures filed on Monday (Jun 6).
The group’s total contracted pre-sales for the 5 months ended May 31 stood at 18.8 billion yuan for a contracted GFA of 410,194 square metres, a 23.2 per cent decrease in value from the year-ago period.
The developer, together with its joint ventures and associates, also recorded 3.1 billion yuan of subscription sales as at May 31, which are expected to be turned into contracted pre-sales in the following months.
Shanghai was the top contributing city to the group’s contracted pre-sales, driving 43.9 per cent of the pre-sales. Other key contributing cities are Suzhou (17.5 per cent), Singapore (9.2 per cent), Hangzhou (6.2 per cent), and Haikou (4.5 per cent).
The group’s contracted pre-sales of other property development projects under its project-management business amounted to about 2.5 billion yuan on contracted GFA of 57,638 square metres for the 5 months ended May 31. This amount is down 62.3 per cent from the 6.5 billion yuan in the year-ago period.
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Yanlord shares ended 0.9 per cent or S$0.01 lower at S$1.07 on Monday, before the announcement.
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