Yanlord Land Group has announced a 75.6% y-o-y increase in pre-contracted sales to approximately RMB12.03 billion ($2.40 billion) on contracted gross floor area (GFA) of 280,819 square meters (sqm) in August. 

In a release on September 8, the group said this is in comparison to the 4.81 billion of precontracted sales on 159,933 sqm of GFA in August 2019. 

The bulk of its sales was contributed by the Chinese cities of Suzhou, Nanjing, Shenzhen, Shanghai, and Hangzhou, which accounted for around 78.5% of the total contracted pre-sales for the company.

For the eight months ended 31 August 2020, Yanlord’s total contracted pre-sales from residential units, commercial units, and car parks rose 73.5% to approximately RMB47.765 billion, compared to the corresponding period in 2019. 

In addition, approximately RMB4.194 billion of subscription sales was recorded as at 31 August, and this is expected to be subsequently turned into contracted pre-sales in the following months. 

As at 3.11pm, shares of Yanlord were trading at $1.17, 0.86% higher or up one cent from its previous close of $1.16.