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China Vanke provides May property transactions update

In May, China Vanke Co. Ltd. recorded 57.99 billion yuan of contracted sales and spent about 12.44 billion yuan for the purchase of various levels of interest in 12 property development projects across China.

The contracted sales figure for the reporting month is higher in comparison with the 42.88 billion yuan that the Hong Kong-listed property company reported in the prior-year period. It also reflects a contracted sales area of 3,660,000 square meters, according to a June 4 filing.

China Vanke's aggregate contracted sales for the first five months of 2019 increased on an annual basis to 267.60 billion yuan from 239.03 billion yuan, while the company's contracted sales area over the same period grew to 16,608,000 square meters from 15,855,000 square meters.

Since the real estate developer's property transactions update for April, it invested in the 12 projects with a total attributable gross floor area of 1,471,000 square meters. Within the same time frame, it also bought the VX Nanning Jinhai Logistics Park project in Nanning, China, for 69 million yuan.

As of June 4, US$1 was equivalent to 6.91 Chinese yuan.