Yanlord Land’s launch in Chengdu sells out, hitting 1.75 billion yuan in pre-sales

China yuan coins

Yanlord Land said Friday it sold all 448 apartment units in the final batch launch at the Yanlord Riverbay project’s phase three in Chengdu, China, marking around 1.75 billion yuan (S$339.20 million or US$248.61 million) in presales.

In June, an earlier batch launch of the project had more than 20,000 buyers ballot for only 207 apartment units, Yanlord Land said in a filing to SGX.

“The strong market support received by Yanlord Riverbay stands a testament to the ability of Yanlord to consistently meet and exceed the maturing demand of discerning home buyers in Chengdu and the PRC real estate market,” Zhong Sheng Jian, Yanlord’s chairman and CEO, said in the statement.

“The momentum and market recognition we have built up through Yanlord Riverbay will serve as a firm grounding for our subsequent project launches in Chengdu and underscores our continued confidence in the greater Chengdu market,” Zhong said.

The Yanlord Riverbay project is located around 5 kilometers away from Chengdu’s central business district and is near the city’s No.2 metro line, the filing said.

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