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China Resources Land's December 2018 contracted sales decline YOY

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China Resources Land's December 2018 contracted sales decline YOY

China Resources Land Ltd.'s unaudited gross contracted sales for December 2018 dropped to roughly 21.02 billion yuan from about 27.41 billion yuan in the year-ago period.

The current sales figure translates to a contracted gross floor area of approximately 1,129,183 square meters.

The Chinese developer also logged contracted sales of roughly 210.68 billion yuan in the full year 2018, higher than the roughly 152.16 billion yuan in 2017. During the reporting year, China Resources contracted 11,989,262 square meters of gross floor area.

Rental income from investment properties during the month rose 27.5% year over year to about 1.02 billion yuan, while rental income for the entire 2018 totaled roughly 9.58 billion yuan, marking a 27.9% year-over-year jump.

The company also said it acquired varying interests in 98 land plots in China during 2018 for a total attributable land premium of 98.31 billion yuan. The properties have a combined gross floor area of 21,902,965 square meters.

As of Jan. 15, US$1 was equivalent to 6.76 yuan.