Yanlord Land: May contracted pre-sales fell 70 percent by value

A 1 yuan note. Photo by Rob on UnsplashA 1 yuan note. Photo by Rob on Unsplash

Yanlord Land said Monday its May total contracted pre-sales from residential and commercial units and car parks, including joint ventures and associates, amounted to around CNY1.14 billion from contracted gross floor area of 47,695 square meters, down 70 percent and down 62.5 percent, respectively, from May 2021.

In addition, around CNY3.09 billion of subscription sales of the group, along with its joint ventures and associates was posted as of end-May, Yanlord said in a filing to SGX. Those sales are expected to be turned into contracted pre-sales in coming months, Yanlord said.

For the five months ended 31 May, the group, together with its joint ventures and associates’ total contracted pre-sales from residential and commercial units, and car parks was around CNY18.82 billion on contracted gross floor area of 410,194 square meters, down 23.2 percent and down 45.3 percent respectively on-year, the filing said.

Read more details of Yanlord’s sales figures.