China Overseas Land & Investment Ltd., together with its subsidiaries, joint ventures and associates, posted approximately HK$22.35 billion in contracted property sales in March, corresponding to about 1,249,800 square meters of gross floor area sold.
Also in March, the group purchased four land parcels in China, measuring a total gross floor area of roughly 1,067,371 square meters. The plots located in Chengdu, Xi’an, Chongqing and Shanghai were acquired for a total consideration of approximately 9.85 billion yuan. Two land parcels in Hefei, which have an attributable gross floor area of 407,644 square meters, were also acquired by China Overseas Grand Oceans Group Ltd. and its subsidiaries for 2.15 billion yuan in the same month.
In the first quarter of 2017, meanwhile, contracted sales reached about HK$57.16 billion from 3,314,200 square meters of gross floor area sold. The company also bought 15 land parcels in the quarter for a total land premium of 20.78 billion yuan.
In 2016, March sales amounted to HK15.14 billion, while first-quarter sales were HK$39.31 billion.
As of April 7, US$1 was equivalent to 6.90 Chinese yuan.