Yanlord Land sells 483 apartment units in Suzhou with nearly 2 billion yuan in pre-sales

China yuan coins

Yanlord Land sold 483 apartment units across two developments in Suzhou, with more than 1.89 billion yuan (S$375.39 million or US$273.53 million) in pre-sales, the Chinese property developer said in a filing to SGX Thursday.

At the New Tang’s Mansion development, Yanlord sold on 30 July 253 units of the latest batch launch at an average selling price of around 32,410 yuan per square meter, for pre-sales of more than 1.03 billion yuan, the filing said.

In addition, at the Four Seasons Heming Gardens opening on 31 July, Yanlord sold more than 92 percent, or 230 of the 249 apartment units launched, with an average selling price of around 27,956 per square meter, the developer said, adding that marked presales of around 856 million yuan.

“We are heartened by the favourable market response received at our latest projects’ launches and these two launches bear testament to the strong support and confidence that Suzhou residents place in the group’s ability to deliver quality developments,” Zhong Sheng Jian, Yanlord’s chairman and CEO, said in the statement.

“Capitalising on the strong sales momentum, we have slated additional projects and batches of existing projects in Suzhou for launching over the next two quarters which we believe will contribute positively to the sustainable development of the group,” Zhong added.

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