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China Overseas Land logs YOY growth in FY'18 contracted sales

China Overseas Land & Investment Ltd.'s contracted property sales increased to approximately HK$301.24 billion in full-year 2018 from the roughly HK$232.07 billion recorded in the year-ago period.

The Hong Kong-listed developer, which sold about 15,934,500 square meters of properties during the reporting year, logged an estimated HK$28.40 billion of contracted property sales in December 2018, reflecting gross floor sales area of approximately 1,235,800 square meters.

In a separate release, China Overseas Land added that it paid 91.35 billion yuan for the acquisition of various stakes in 63 land parcels in both mainland China and Hong Kong in the 12 months ended Dec. 31, 2018, with an attributable gross floor area of 12,715,921.64 square meters.

As of Jan. 7, US$1 was equivalent to 6.85 yuan.