Yanlord's contracted pre-sales up 88% to 9.81b yuan last month

CHINESE property developer Yanlord Land Group logged 9.81 billion yuan (S$2.07 billion) in total contracted pre-sales from residential and commercial units, as well as car parks in January 2022, up 87.7 per cent from the 5.22 billion yuan it recorded a year ago.

The pre-sales were for a contracted gross floor area (GFA) of 170,486 square metres, a 6.7 per cent increase from January 2021, according to the group's unaudited key operating figures filed on Tuesday (Feb 8).

The developer, together with its joint ventures and associates, also recorded 1.83 billion yuan in subscription sales as at Jan 31, which are expected to be turned into contracted pre-sales in the coming months.

The group's contracted pre-sales of other property development projects under its project-management business amounted to about 0.8 billion yuan on contracted GFA of 25,164 square metres. This amount is down 63.7 per cent from the 2.2 billion yuan in the year-ago period.

Shanghai was the top contributing city to the group's contracted pre-sales, driving 78.9 per cent of the pre-sales. The other key contributing cities are Haikou (8 per cent), Singapore (5.7 per cent), Wuxi (1.8 per cent) and Jinan (1.2 per cent).

Yanlord's shares closed flat at S$1.16 on Tuesday before the announcement.