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China Overseas Land posts higher property sales, buys 5 sites in December

China Overseas Land & Investment Ltd.'s contracted sales in December 2019 amounted to HK$33.96 billion, higher than HK$28.40 in the prior-year period, and it purchased five land parcels in China for 8.66 billion yuan during the month.

In December, the company sold 1,576,500 square meters of contracted gross floor sales area.

For full-year 2019, China Overseas Land's contracted sales rose year over year to HK$377.17 billion from HK$232.07 billion, while its gross floor sales area grew to about 17,944,200 square meters from approximately 15,934,500 square meters.

Meanwhile, the land parcels that the group purchased in December 2019 have an aggregate attributable gross floor area of roughly 1,386,667.40 square meters.

For the year ended Dec. 31, 2019, the company spent 113.36 billion yuan for the acquisition of various levels of interest in 53 land parcels across China and Hong Kong with a total gross floor area of 11,456,065.69 square meters.

As of Jan. 8, US$1 was equivalent to 6.95 yuan.