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China Resources Land reports February property transactions

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China Resources Land reports February property transactions

In February, China Resources Land Ltd.'s contracted property sales grew year over year 18.5% to roughly 9.01 billion yuan from about 7.60 billion yuan, while its land acquisition decreased to a 41% stake in a single plot from four sites in the prior-year period.

The Hong Kong-listed developer's contracted gross floor area for the reporting month amounted to approximately 500,603 square meters.

In February, rental income from investment properties increased 28.1% on an annual basis to about 956 million yuan.

China Resources Land paid an attributable land premium of 92 million yuan for its only land purchase in February. The purchased property in Qingdao, China, has a total gross floor area of approximately 75,923 square meters, the company added.

As of March 14, US$1 was equivalent to 6.72 yuan.