China Overseas Land Reports Mixed Sales Update

China Overseas Land & Investment (HK:0688) has released an update.

China Overseas Land & Investment Limited has reported a 10.4% year-on-year increase in contracted property sales for July 2024, totaling approximately RMB 13.192 billion, despite a 4.4% decrease in sales area. From January to July 2024, however, there was a notable decrease in both sales and sales area compared to the previous year, with accumulated contracted property sales dropping by 15.9% and corresponding sales area by 30.5%. The company anticipates additional subscribed property sales, worth approximately RMB 13.072 billion, to convert into contracted sales in the upcoming months.

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