trending Market Intelligence /marketintelligence/en/news-insights/trending/UvsFXTIUtFXsBzYGjQ7TuA2 content esgSubNav
In This List

China Overseas Land reports YOY increase in Q1'16 sales

Blog

Insight Weekly: Banks brace for recession; Europe PE deal values soar; US solar imports rebound

Video

According to Market Intelligence, December 2022

Blog

Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes

Blog

Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook


China Overseas Land reports YOY increase in Q1'16 sales

,its subsidiaries, joint ventures and associates posted approximately HK$39.31 billionof accumulated contracted property sales between January and March, up from approximatelyHK$32.67 billion yearover year.

The companysaid April 13 that the sales figure for the first quarter of 2016 accounted forapproximately 2,579,600 square meters of accumulated corresponding gross floor areasold in China, Hong Kong and Macau during the period.

For March,property sales of the group amounted to approximately HK$15.14 billion, up fromapproximately HK$10.10 billion of contracted sales in February. The March sales represented approximately 971,700square meters of corresponding gross floor area sold in the month.

As atMarch 31, the group logged around HK$6.25 billion of subscribed property sales,which are expected to be converted into contracted property sales in the succeedingmonths.

In addition,China Overseas Land said in a separate April 13 release that it acquired a landparcel in Nanchang, China, for a land premium of about 1.96 billion Chinese yuan,payable by the company and its subsidiaries.

The groupowns a 100% interest in the Donghu District Qingshanhu Project, which has a landarea of 59,880.00 square meters. Total gross floor area and attributable gross floorarea both span 239,632.00 square meters.

As of April 13, US$1 was equivalentto 6.47 Chinese yuan.