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Shui On Land's 7-month sales tumble 65% YOY

Shui On Land Ltd.'s contracted property sales for the seven months ended July 31 slid 65% year over year to 5.73 billion Chinese yuan from 16.23 billion yuan.

The unaudited seven-month figure for 2017 represents a sales area of 129,500 square meters, a 76% drop from the 544,500 square meters off-loaded in the year-ago period.

Within July, the company's contracted property sales and sales area amounted to nearly 1.34 billion yuan and 16,800 square meters, respectively, corresponding to an average per-square-meter selling price of 81,100 yuan.

Shui On Land also disclosed that as of July-end, its subscribed property sales is estimated at 2.80 billion yuan, noting that this number will subsequently be added to contracted sales figures for the coming months.

As of Aug. 4, US$1 was equivalent to 6.72 Chinese yuan.