Yanlord’s Shenzhen development presales at 1.34 billion yuan on opening weekend

China yuan coins

Yanlord Land’s Shenzhen development, Yanlord Four Seasons Gardens, sold 283 out of 323 apartment units launched on its opening weekend, with total pre-sales at around 1.34 billion yuan (S$265.39 million or US$194.09 million), the Chinese property developer said Wednesday.

The average selling price was around 51,000 yuan a square meter, based on the around 26,300 square meters of gross floor area sold, Yanlord said in a filing to SGX.

“We are heartened by the healthy market response for this latest launch of apartment units in Shenzhen which has seen strong upgrader demand from professionals and executives relocating in line with the Greater Bay Area initiative,” Zhong Sheng Jian, Yanlord’s chairman and CEO, said in the statement.

Yanlord Four Seasons Garden is located in the downtown Longgang District in Shenzhen city.

“We will be launching a total of two projects in Longgang District in 2019. This reflects our commitment to and confidence in the continued development of the Shenzhen real estate market,” Zhong said.

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