Yanlord Land presales down 37.7% to $4.27b in 7M 2023

Presales fell but a larger gross floor area (GFA) was contracted during the period.

Yanlord Land Group’s total contracted pre-sales fell in value despite selling a larger gross floor area (GFA) for the first seven months of 2023, the group’s latest unaudited operating figures showed.

Total contracted pre-sales between January to August 2023 was approximately S$4.275b (RMB22.96b) for a combined contracted gross floor area (GFA) of 878,079 square meters. Value-wise is 37.7% lower than in the same period in 2023, whilst the GFA is 25.6% higher, the group said.

In July, Yanlord and its joint ventures and associates saw its total contracted pre-sales from residential and commercial units, and car parks amounted to approximately RMB1.63b for a total contracted GFA of 69,463 sqm, a 69.9% decrease and 0.3% increase, respectively, compared to the corresponding period last year.

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Of this, RM9m on a GFA of 308 sqm were contracted under the group’s project management business bearing the “Yanlord” brand name in July 2023.

Yanlord also reported a total of approximately RMB2.83b of subscription sales together with its joint ventures as at 31 July 2023. It is expected to subsequently be turned into property contracted pre-sales in the following months.