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China Vanke's February sales slide YOY to 35.60B yuan

China Vanke Co. Ltd. reported a year-over-year decrease in contracted sales in February to 35.60 billion yuan, corresponding to 2,402,000 square meters of property, from 38.51 billion yuan.

The diversified developer's contracted sales in the first two months of 2018, meanwhile, increased year over year to 103.58 billion yuan, or 6,845,000 square meters, from 86.63 billion yuan.

Since its update for the month ended Jan. 31, the Hong Kong-listed developer acquired 22 property development projects and three logistics projects in China for an estimated 11.83 billion yuan and 325 million yuan, respectively.

As of March 2, US$1 was equivalent to 6.36 yuan.