Yanlord’s third batch of apartments in Shanghai project sold out, pulls in RMB6.1b in pre-sales

YANLORD Land Group has pulled in RMB 6.1 billion (S$1.28 billion) in pre-sales from selling all units in the third batch of apartments launched for its Shanghai project, Yanlord Arcadia.

In a statement on Wednesday (Jun 29), the Singapore Exchange-listed real estate developer said that all 372 units with a gross floor area (GFA) of 52,914 square metres were taken up at an average price of about RMB 115,000 per sq m. All in, 1,769 customers had registered to purchase the units.

Located in the Jiangjiabang area in Shanghai’s Yangpu district, Yanlord Arcadia occupies 69,400 sq m and has a GFA of 183,215 sq m. The company plans to build a total of 1,171 residential units across 16 towers.

Shares of Yanlord, which focuses on developing high-end integrated commercial and residential property projects in strategically selected high-growth cities in China, closed flat at S$1.08 on Wednesday.