On March 6, China Overseas Land & Investment ***00688HK) issued an update on property sales and land acquisition for the two months ended 29 February 2024.
According to the announcement, in February 2024, China Overseas Land & Investment and its subsidiaries, joint ventures and associates obtained 849.1 billion yuan, compared with 274 in the same period last year2.4 billion yuan, a significant decrease of 69% year-on-year; Corresponding to the floor area sold 42660,000 square meters, compared with 149 in the same period last year350,000 square meters, a year-on-year decrease of 714%。
From January to February, the company's series of companies accumulated contracted property sales of 1899.5 billion yuan, compared with 40.6 billion in the same period last year1.1 billion yuan, down 532%；The corresponding floor area sold is 9870,000 square meters, compared with 220 in the same period last year470,000 square meters, a year-on-year decrease of 552%。As of February 29, 2024, the sales of properties subscribed but not converted into contracts were approximately 1467.5 billion yuan, which is expected to be converted into contracted sales in the next few months.
In terms of new land, COLI acquired a land parcel in Tianjin in February 2024, with an attributable floor area of approximately 7780,000 square meters, and the land transfer fee payable is about 96.5 billion yuan.
Announcement of China Overseas Land & Investment.