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China Overseas Land logs HK$173.9B contracted property sales in 7-month period

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China Overseas Land logs HK$173.9B contracted property sales in 7-month period

Contracted property sales at China Overseas Land & Investment Ltd., together with its subsidiaries, joint ventures and associates, for the seven months ended July 31 totaled roughly HK$173.89 billion.

The corresponding gross floor area for the sales was roughly 9.7 million square meters.

For the month of July, contracted property sales totaled roughly HK$23.05 billion, covering roughly 1.2 million square meters.

In its Chinese land acquisitions update, the company said it, along with its subsidiaries, acquired six land parcels in Nanchang, Hangzhou, Foshan, Suzhou and Ningbo for roughly 7.74 billion yuan in July, representing an aggregate attributable gross floor area of roughly 765,297 square meters.

Also in July, company associate China Overseas Grand Oceans Group Ltd. acquired two land parcels in Hohhot, Inner Mongolia, and Jining in China's Shandong Province, for roughly 2.50 billion yuan. The parcels comprise an attributable gross floor area of 673,394 square meters.

As of Aug. 9, US$1 was equivalent to 6.82 Chinese yuan.