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China Resources Land reports 34% YOY decline in February contracted sales

China Resources Land Ltd. said its gross contracted sales hit roughly 7.60 billion Chinese yuan in February, down 33.6% year over year, while its rental income from investment properties for the month rose 8.3% year over year to about 746 million yuan.

The diversified real estate developer said the February contracted sales represented about 462,088 square meters of gross floor area, about 372,347 square meters of which came from projects operated by the company and its subsidiaries.

As of March 12, US$1 was equivalent to about 6.33 Chinese yuan.