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China Resources logs 16% YOY hike in year-to-July sales

China Resources Land Ltd. and its subsidiaries saw a 16% year-over-year increase in contracted sales in the seven months to July at about 73.93 billion yuan.

The company also recorded a 7% growth in gross floor area sales to roughly 5,230,960 square meters in the period. Rental income from investment properties in the first seven months of 2017 stood at about HK$4.60 billion, up 15% from the year prior, according to a release.

Meanwhile, in the month ended July 31, the group sold 863,268 square meters of properties for approximately 10.71 billion yuan. Rental income in the month was estimated at HK$702 million.

China Resources recently said it spent about 8.16 billion yuan in July for land acquisitions in China.

As of Aug. 11, US$1 was equivalent to 6.67 Chinese yuan.