China Overseas Land & Investment's Contracted Sales Surge 66% in October

MT Newswires Live11-06

China Overseas Land & Investment (HKG:0688) recorded contracted sales of around 41.6 billion yuan in October, up 66% from the year-ago period, a Wednesday bourse filing said.

The property company's sales area for the month increased by 34.6% year over year to approximately 1.5 million square meters.

From January to October, contracted sales and sales area fell by 9% and 20.4%, respectively, to roughly 240.4 billion yuan and 9.1 million square meters.

As of Oct. 31, the firm's subscribed property sales stood at around 17.9 billion yuan.

In October, the company bought one land parcel in Shanghai for the Yangpu District Project with an attributable gross floor area of roughly 77,985 square meters for 3.2 billion yuan.

For the 10 months ended Oct. 31, the company acquired lands with a total gross floor area of 1.9 million square meters for a total of 21.8 billion yuan.

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