Yanlord's Shenzhen apartment hits $280m in sales

It sold 283 units at an average selling price of $10,055.69 per sqm.

Real estate developer Yanlord Land Group has garnered pre-sales amounting to $280m (RMB1.34b) after it sold 283 apartment units at the inaugural launch of Yanlord Four Seasons Gardens in Shenzhen, an announcement revealed.

The units, which were launched during the opening weekend, had an average selling price of around $10,055.69 (RMB51,000) per sqm for the approximate 26,300 sqm gross floor area (GFA) sold.

Located in the downtown of Longgang District in Shenzhen City, the approximately 469,000 sqm GFA project stands at the southern portal to the district, and is located adjacent to stations of the city’s metro lines route 3, as well as route 14 and 16 which are currently under construction.

According to Yanlord’s CEO and chairman Zhong Sheng Jian, Shenzhen has seen strong upgrader demand from professionals and executives relocating to the city in line with the Greater Bay Area (GBA) initiative.

“This latest launch of apartment units at Yanlord Four Seasons Gardens is our first batch of project launched in Longgang District and we will be launching a total of two projects in Longgang District in 2019,” he said.