Yanlord contracted pre-sales down 5% YoY in October

It reached RMB58.1t in the first 10 months of 2022.

Yanlord Group, along with its joint ventures and associates, posted a 5% year-on-year (YoY) decline in contracted pre-sales from residential and commercial units and car park in October 2022 to around ($794m) RMB4.1b.

In a statement, Yanlord said the pre-contracted sales covered a gross floor area (GFA) of 120,667 square metres (sqm) which also slipped by 8.6% YoY.

For the first 10 months of the year, the Group’s total contracted pre-sales from the three segments surge 41.6% YoY to around $11.3b (RMB58.1b), over a contracted gross floor area (GFA) of around 1.1 million square metres or a 14.2% YoY decline.

READ MORE: Yanlord contracted pre-sales leaps by more than 200% in August

Shanghai, Suzhou, Singapore, Wuxi, and Hangzhou were the top five key contributing cities with a total contracted pre-sales of around $9.3b (RMB48b), accounting for 82.5% of the total in the first ten months.

Meanwhile, its subscription sales reached around $632.5m (RMB3.2b) and were expected to be turned into property contracted pre-sales in the following months.

The Group's total contracted pre-sales of other property development projects under its project management business which has the “Yanlord” brand name reached around $29.4m (RMB151m) on a GFA of 4,267 sqm.

For the first 10 months, such projects reached $5.03b (RMB5.3b) on a contracted GFA of 127,492 sqm.

SGD1 = RMB5.14