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China Overseas Land's August contracted sales grow YOY to HK$28.81B

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China Overseas Land's August contracted sales grow YOY to HK$28.81B

China Overseas Land & Investment Ltd.'s contracted sales in August increased to about HK$28.81 billion from roughly HK$26.16 billion in the prior-year period.

The property group's contracted gross floor area for the period rose year over year to approximately 1,502,900 square meters from about 1,266,200 square meters, according to a Sept. 5 release.

The contracted sales of the Hong Kong-listed developer, its subsidiaries, joint ventures and associates amounted to about HK$256.15 billion in the first eight months of 2019. The figure, which corresponds to approximately 12,184,900 square meters of gross floor area, rose from the HK$200.05 billion of contracted sales in the same period the prior year.

In a separate same-day release, China Overseas Land said that it did not buy any development sites in August. However, China Overseas Grand Oceans Group Ltd., an associate of the company, paid roughly 136.2 million yuan for the purchase of a land parcel in Weifang, China, with an attributable gross floor area of 62,737.00 square meters.

As of Sep. 5, US$1 was equivalent to 7.15 Chinese yuan.