Yanlord nets $280m in pre-sales of Yanlord Gardens

It sold all 357 units within the first day of the launch for around $5,625.86 psm.

Real estate developer Yanlord Land Group has garnered pre-sales amounting to $280m ($1.43b) after it achieved a 100% sellout on the first day of the inaugural launch of Yanlord Gardens in Nantong, an announcement revealed.

It sold all 357 units available for sale within the first day of the launch at an average selling price of approximately $5,625.86 (RMB28,570) psm for 50,235 sqm gross floor area (GFA) sold.

Surrounded by three natural parks, the site has a plot ratio of 1.8 and benefits from the Nantong government initiatives to develop the area into a key model for technology company development and innovation. It is also well connected via key thoroughfares passing through the district as well as neighbouring stations from the city’s metro line route 1.

Also read: China's property market to rebound in H2 2019

According to Zhong Sheng Jian, Yanlord’s chairman and CEO, strong upgrader demand and healthy inflows of populations into first tier and second tier cities in mainland China continue to drive demand for high-quality residential developments. “Capitalising on the positive buyer sentiment, we will continue to launch new projects that will cater to the demand of our discerning customers,” he said.

Earlier in the month, the firm also clinched pre-sales amounting to $260m after it sold 283 apartment units at the inaugural launch of its Yanlord Four Seasons Gardens in Shenzhen.

Yanlord is slated to launch another set of projects in Longgang District in 2019.

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