YANLORD GARNERS OVER RMB2.59 BILLION PRE-SALES IN 100% SELLOUT OF ITS LATEST LAUNCH OF OASIS NEW ISLAND GARDENS IN NANJING
(Singapore/Hong Kong – 20th NOVEMBER 2017) –Yanlord Land Group Limited announced that it had achieved a 100% sellout on the first day of its latest launch of apartment units at Oasis New Island Gardens (Phase 3) (绿洲新岛花园三期) in Nanjing.
Opening to stellar response from the market on 19th November 2017, Yanlord sold all of the 636 apartment units launched during the first day of sales at an average price of approximately RMB36,000 per square metre (“sqm”) for the 72,000 sqm gross floor area (“GFA”) sold. With a company requirement for buyers to commit to an 80% downpayment of total value on the date of purchase, the total contracted pre-sales derived from the launch amounted to approximately RMB2.59 billion.
Commenting on the launches of the apartment units, Yanlord’s Chairman and Chief Executive Officer, Mr. Zhong Sheng Jian, said, “Strong upgrader demand and healthy inflows of populations into first tier and core second tier cities 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. In addition, the current market environment also provides us with the opportunity to selectively manage the ASPs of our developments to enhance the profitability of our projects. Yanlord’s competitive advantage remains in the delivery of high-quality developments that continually meet and exceed customer demands in first and second tier cities. This advantage is clearly reflected in the stellar sell through witnessed in our recent project launches and will continue to lay the foundation for the Group’s sustained development.”
About Oasis New Island Gardens (绿洲新岛花园)Ideally situated within the Sino-Singapore Nanjing Eco Hi-tech Island – a flagship economic collaboration program developed under the auspices of the Singapore Jiangsu Cooperation Council – Oasis New Island Gardens rests along the island’s idyllic riverfront offering an unobstructed view of the Yangtze River and is in close proximity to the New One North Science Park (“新纬壹科技园”). Well connected via planned key thoroughfares running through the island as well as the adjacent metro station of the No. 10 metro line, the approximately 390,000 sqm GFA mixed use development will not only feature prime residential offerings but also provide a comprehensive suite of serviced apartments, offices and retail amenities to meet the needs of its residents. The first phase of the project was launched in November 2014.