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Dalian Wanda Commercial Q1 contracted sales drop YOY

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Dalian Wanda Commercial Q1 contracted sales drop YOY

and its subsidiaries recorded a year-over-year drop in contracted sales for thefirst quarter of 2016.

The companysaid April 8 that the group's contracted sales between January and March amountedto around 15.3 billion Chinese yuan, compared with around 16.69 billion yuan in the year-ago period.

The salesfigure for the first quarter of 2016 represented a contracted sales area of approximately1,740,000 square meters.

In March,Dalian Wanda Commercial acquired 10 more projects in China for a land premium worthan estimated 870 million yuan. The projects span a total site area of 532,000 squaremeters and a total gross floor area of 1,065,000 square meters.

The companyholds a 100% interest in each of the projects located in Liupangshui, Chengdu, Xinxiang,Fuxin, Changzhou, Xuancheng, Nantong, Hebi, Shizuishan and Quzhou.

The companydid not open new Wanda Plazas in the first three months of 2016, but the new 292-roomZhengzhou Wanda Vista Hotel in Zhengzhou began operations in March.

As of April 8, US$1 was equivalentto 6.47 Chinese yuan.