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China Vanke's May sales increase YOY to 42.88B yuan

China Vanke Co. Ltd.'s contracted sales in May reached 42.88 billion yuan, translating to a contracted sales area of 2,797,000 square meters.

In the January-to-May period, accumulated contracted sales amounted to 239.03 billion yuan and sales area was 15,855,000 square meters.

The unaudited figures for the month are up year over year from 35.89 billion yuan and 2,420,000 square meters. The five-month contracted sales and sales area are up year over year from 228.05 billion yuan and 15,201,000 square meters, respectively.

Also in May, the Chinese real estate development giant bought varying interests in 17 new projects in the mainland for a total land premium of roughly 13.90 billion yuan. It also bought four new logistics property projects, three fully owned and one at a 60% interest, for 807 million yuan.

As of June 4, US$1 was equivalent to 6.41 yuan.