Yanlord Land’s Hangzhou project sells out in initial launch

China yuan coins

Yanlord Land’s Yanlord Riverside Gardens project in Hangzhou has fully sold its initial batch of 120 apartment units, launched 26 October, the Chinese property developer said in a filing to SGX Wednesday.

The average selling price was around 71,500 yuan a square meter for the 24,196 square meters of gross floor area sold, with the total contracted pre-sales coming in at around 1.73 billion yuan, Yanlord said.

“The healthy performance during this launch further underscores our continued confidence in the Hangzhou real estate market and, capitalising on our track record and brand equity in quality residential development, we will seek to strategically deepen our footprint within the Yangtze River Delta,”Zhong Sheng Jian, Yanlord’s chairman and CEO, said.

The Yanlord Riverside Gardens site, located in the core area of Qianjiang New City, is the company’s third project in Hangzhou to-date.

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