Yanlord Land sold all 357 units available at its Yanlord Gardens project on the launch day, with total presales of around 1.43 billion yuan (S$282.16 million or US$207.99 million), the China property developer said in a filing to SGX Tuesday.
The project, based in Nantong, had an average selling price of around 28,570 yuan per square meter for 50,235 square meters of gross floor area, the filing said.
“Strong upgrader demand and healthy inflows of populations into first tier and second tier cities in the PRC continue to drive demand for high-quality residential developments,” Zhong Sheng Jian, Yanlord’s 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,” Zhong said.
Yanlord Gardens is surrounded by three natural parks and is located near Nantong’s metro line.
The project is using Nantong government programs to develop the area for technology company development and innovation, Yanlord said.
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