Yanlord Land presales up fivefold in May

Total contracted presales for the first five months of 2023 is 1.9% lower, however.

Yanlord Land recorded pre-sales of over RMB6.1b in May, a 437.5% increase from the same month in 2022.

Total contracted presales–from residential and commercial units, and carparks– combined to a contracted gross floor area (GFA) of 199,946 square metres, a 319.2% jump compared to May 2022, the group’s latest SGX filing showed.

Overall, Yanlord Land has total contracted presales of approximately RMB18.45b for the first five months of 2023, for a GFA of 706,033 sqm. The area is 72.1% higher than the GFA reported for the January-May period of 2022, although the presale value is 1.9% lower.

ALSO READ: Here's why buyers prefer small, premium property units

Additionally, a total of RMB3.33b of subscription scales together with its joint ventures and associates have been recorded as at 31 May. 

Total contracted pre-sales of other property development projects under the group’s project management business bearing the “Yanlord” brand name was approximately RMB202m on a total contracted GFA of 8,815 sqm in May.