Yanlord’s contracted pre-sales halve to 32.4 billion yuan in FY2023

CHINESE property developer Yanlord Land Group logged 32.4 billion yuan (S$6.1 billion) in total contracted pre-sales in the financial year ended December 2023. The figure is down 52.5 per cent from the 68.1 billion yuan it recorded a year ago. 

Based on the group’s unaudited key operating figures filed on Friday (Jan 5), the pre-sales were for a contracted gross floor area (GFA) of about 1.2 million square metres (sq m), a 13.7 per cent drop from the previous year. 

The developer, together with its joint ventures and associates, also recorded around two billion yuan of subscription sales as at Dec 31, 2023. This is expected to turn into property contracted pre-sales in the following months, said Yanlord. 

Suzhou was the top contributing city to the group’s contracted pre-sales, driving 13.9 per cent of it. Other key contributing cities were Shenzhen (12 per cent), Jinan (10.8 per cent), Tianjin (10.3 per cent), and Nanjing (10.1 per cent). 

Pre-sales from residential and commercial units, as well as car parks, in these five cities raked in 18.4 billion yuan, accounting for around 57.1 per cent of the group and its joint ventures and associates’ total contracted pre-sales. 

Other property development projects under Yanlord’s project management business made about 1.6 billion yuan on contracted GFA of 73,971 sq m in FY2023. 

SEE ALSO

Yanlord reports 26.1 billion yuan in property presales for first 9 months of 2023

Over 3,500 new private homes set to be launched in Q4

Yanlord Land records 20% fall in H1 net profit to 1 billion yuan

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Yanlord shares ended 2.6 per cent or S$0.015 lower at S$0.555 on Friday, before the news.