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China Overseas Land updates on September property transactions

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China Overseas Land updates on September property transactions

China Resources Land Ltd. said its gross contracted sales in September amounted to about 21.98 billion yuan and it spent nearly 7.30 billion yuan for the acquisition of various levels of interest in seven land parcels across China.

The Hong Kong-listed developer's contracted sales figure for the reporting month corresponds to contracted gross floor area of about 1,288,772 square meters. It is also higher by 30.6% compared with the roughly 21.70 billion yuan that the company logged in the prior-year period.

China Resources Land's attributable contracted sales reached about 15.34 billion yuan, while attributable contracted gross floor sales area came at about 1,001,095 square meters. In addition, rental income from investment properties for September rose 22.1% year over year to about 1.09 billion yuan.

For the nine months ended Sept. 30, the property company's contracted sales jumped 15.7% year over year to 175.37 billion yuan and its contracted gross floor sales area climbed 11.0% during the comparable period to 9,556,032 square meters.

Meanwhile, China Resources Land's nine-month rental income from investment properties increased by 29.1% year over year to nearly 8.91 billion yuan.

In a separate filing, the company noted that the properties in which it invested in September have a combined gross floor area of approximately 1,205,510 square meters.

As of Oct. 14, US$1 was equivalent to 7.07 Chinese yuan.