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China Vanke December contracted sales decline YOY

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China Vanke December contracted sales decline YOY

China Vanke Co. Ltd.'s contracted sales in December totaled 57.31 billion yuan, down from 63.01 billion yuan reported in the year-ago period.

The Chinese real estate developer recorded contracted sales area at 4,148,000 square meters during the month, according to a Jan. 3 filing.

In the full-year 2019, the company accumulated 630.84 billion yuan of contracted sales and 41,122,000 square meters of contracted sales area.

In December, China Vanke spent 7.78 billion yuan to acquire various levels of interest in seven new development projects across China. The sites have a total land area of 515,000 square meters, with 594,000 square meters of gross floor area attributable to its equity holding in the projects.

In addition, the developer paid 85 million yuan for an 80% stake in logistics property project in Wuhan, China, with a total land area of 66,000 square meters.

As of Jan. 3, US$1 was equivalent to 6.97 Chinese yuan.