Yanlord's pre-sales rose 18.4% to $1.37b in Q1

Sales from Nanjing accounted for nearly 40% of the group’s pre-sales.

Yanlord Land Group recorded pre-sales from residential units and car parks rising 18.4% YoY to $1.37b (RMB6.77b) in Q1, according to a press release. In March, the group’s pre-sales dipped 2.6% to $698.13m (RMB3.46b).

Its contracted gross floor area (GFA) climbed 7.1% to 192,696 sqm during the quarter. However, this was weighed down by a 15.1% fall to 98,492 sqm recorded in March. It has also garnered $572.26m (RMB2.84b) subscription sales as of 31 March.

The group noted that sentiments within the property sector in China have taken a hit in the recent months due to the pandemic.

Sales from Nanjing accounted for the biggest portion of its pre-sales at $534.74m (RMB2.65b) or 39.1% of the group’s total. This is followed by Hangzhou $199.7m (RMB990m) and Nantong $183.96m (RMB912m), with Suzhou and Tianjin rounding out the top five.

The $1.12b (RMB5.53b) contracted pre-sales in these five cities accounted for about 81.7% of the group’s Q1 total.