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China Overseas Land reports YOY decline in November sales

China Overseas Land & Investment Ltd., its subsidiaries, joint ventures and associates' contracted property sales in November fell to approximately HK$10.76 billion from about HK$28.60 billion year over year.

The latest monthly sales figure represented about 880,100 square meters of gross floor area. Meanwhile, for the first 11 months of 2016, accumulated contracted property sales amounted to approximately HK$206.75 billion with an accumulated corresponding gross floor area of about 12,768,000 square meters.

As of Nov. 30, the company said subscribed property sales reached about HK$12.06 billion.

China Overseas Land and its subsidiaries also acquired 100% interests in two land parcels in Changchun and Fuzhou, China, for a land premium of roughly 2.51 billion Chinese yuan. The properties have an aggregate attributable gross floor area of approximately 403,902 square meters.

As of Dec. 12, US$1 was equivalent to 6.92 Chinese yuan.