Yanlord Land Group’s contracted pre-sales drop to $5.5b in 11M23

The 11M23 pre-sale translates to a 52.8% YoY decline.

Yanlord Land Group’s contracted pre-sales from residential and commercial units and car parks fell by 52.8% YoY to $5.5b (RMB29.234b) in 11M23, its latest unaudited operating figures revealed.

In the same period, the group’s total contracted gross floor area (GFA) also fell, dropping 8.0% YoY to  1,143,086 square metres (sqm).

Looking at November figures alone, the group’s contracted pre-sales and GFA both dropped, recording a decline of 71.5% to $206.1m (RMB1.088b) and 66.0% to 38,398 sqm, respectively.

The biggest contributors to the group’s pre-sales were Suzhou (14.4%), Jinan (11.8%),  Shenzhen (11.6%), Nanjing (11.3%), and Tianjin (10.8%)

With an aggregate contracted pre-sales of  $3.3b (RMB17.517b), these five cities accounted for 59.9% of the total contracted pre-sales of the group in the first nine months of the year.

1 SGD = RMB 5.28