China Overseas Land & Investment (HK:0688) has released an update.
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China Overseas Land & Investment Limited reported a significant drop in property sales for the nine months ending September 2024, with a 33% year-on-year decrease in September alone, and an overall decrease of 16.8% in contracted sales reaching RMB198.848 billion. The sales area also saw a decline, with a 26.1% reduction compared to the previous year. Despite the downturn, the company anticipates additional contracted sales based on current subscriptions.
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