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China Overseas Land posts YOY rise in July property sales

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China Overseas Land posts YOY rise in July property sales

China Overseas Land & Investment Ltd. recorded approximately HK$33.14 billion of contracted property sales in July and acquired 11 land parcels across China during the same month.

The property sales figure for the reporting month reflects an improvement from the roughly HK$26.73 billion that the Hong Kong-listed property company logged in the prior-year period. It also translates to approximately 1,463,300 square meters of gross floor area sold.

For the first seven months of 2019, the company reported aggregate contracted sales of nearly HK$227.34 billion, reflecting a total gross floor area sold of approximately 10,682,000 square meters.

As of July 31, China Overseas Land & Investment recorded nearly HK$33.29 billion of subscribed property sales, which are expected to be converted into contracted property sales in the following months.

In July, the company acquired 11 land parcels across China for about 24.03 billion yuan.

As of Aug. 6, US$1 was equivalent to 7.03 Chinese yuan.