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China Vanke's contracted sales rises YOY to 48.19B yuan in July

China Vanke Co. Ltd. said its contracted sales in July rose year over year to 48.19 billion yuan from 45.14 billion yuan.

The sales figure for the reporting month reflects 3,135,000 square meters of contracted sales area, according to the Aug. 2 filing.

The Hong Kong-listed developer sold 24,636,000 square meters of properties for 382.19 billion yuan in the first seven months this year. The seven-month contracted sales totaled 312.74 billion yuan in the same period in 2018.

Since its June property deals update, China Vanke also purchased stakes in 20 property development projects across China for an aggregate attributable land premium of 31.33 billion yuan. The projects are based on a combined land area of 2,138,000 square meters, while their gross floor area attributable to the developer's equity holding is 3,247,000 square meters.

As of Aug. 2, US$1 was equivalent to 6.94 yuan.