Yanlord pre-sales dip 24% YoY to $12.7b in 2021

December 2021 pre-sales declined 16.3% YoY.

Yanlord Land Group Limited saw a 24% decline in contracted pre-sales from residential and commercial units, and car parks, reaching $12.7b (RMB59.59b) in 2021, compared to the previous year.  

The contracted gross floor area (GFA) reached around 1.87 million square metres (sqm), down 12.7%, according to data from Yanlord.

The average selling price per sqm for 2021, meanwhile,  decreased 13% to $39,007.55 (RMB31,889) due to the change in the composition of projects under pre-sales it said.

Meanwhile, contracted pre-sales in December 2021 also recorded a decline of 16.3% year-on-year (YoY), reaching around $2b (RMB9.217b), whilst contracted GFA on the pre-sale reached 322,671 sqm, an increase by 18.5% YoY.

Total contracted pre-sales of other property development projects under the group’s project management business bearing “Yanlord” brand name reached around $246.6m (RMB1.2b) in December 2021 with a contracted floor area of 28,171 sqm.

For the full year, pre-sales under the project management business was around S$3.9b (RMB18.1b) with a GFA of 376,623 sqm.

The cities of Shanghai, Nanjing, Suzhou, Hangzhou, and Singapore were the five key contributors to contracted pre-sales of the group in 2021, accounting for 62.1% of the total at around $7.9b (RMB37b). 

Nanjing also accounted for 46.5% of the contracted pre-sales of other property development projects under the group’s project management business bearing the “Yanlord” brand name, whilst Shanghai and Suzhou accounted for 40% and 13.2%, respectively. 

Subscription sales of the Group also reached $456m (RMB2b) for the year and were expected to be turned into contracted pre-sales in the following months, it said.

RMB1 = $0.21