Yanlord sells nearly S$600 million of apartments on launch day of Nanjing project

China yuan coins

Yanlord Land sold more than 2.986 billion yuan, or nearly S$600 million, in pre-sales transactons of apartments on the launch day of its Nanjing project, Yanlord Taoyuan Gardens, the China property developer said on Tuesday.

That was 510 of the 516 apartment units launched that day, or more than 99 percent, of the units launched on 26 August, it said in a filing to SGX on Tuesday after the market close.

It launched total residential gross floor area of around 68,960 square meters during this phase, while the Yanlord Taoyuan Gardens project has a total saleable area of approximately 154,254 square meters, Yanlord said.

The project is located in the Gulou District, which is Nanjing’s traditional city center, with views of the Yangtze River, and with access to key roads and the metro network, it said.

“Strong upgrader demand and healthy inflows of populations into core first and second tier cities continue to drive demand for high-quality
residential developments,” Zhong Sheng Jian, Yanlord chairman and CEO, said in the statement. “Capitalising on the positive buyer sentiment, we will continue to launch new projects that will cater to the demand of our discerning customers.”

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