By Hong Kong Newsroom
HONG KONG (Feb 13) — Hong Kong-listed developer Shui On Land said Tuesday its contracted property sales fell 48% on year in January on lower commercial property sales.
Last month, the company recorded contracted property sales of 408 million yuan ($64.50 million) as compared with 791 million yuan year ago, it said in an exchange filing. Residential property sales stood at 406 million yuan, while commercial property sales was just two million yuan.
In the year ago month, the company recorded residential property sales of 174 million yuan and commercial property sales of 617 million yuan.
The company said its subscribed property sales, which is expected to be subsequently turned into contracted property sales and other assets disposal in the following months, almost tripled on year in January.
For January, the company recorded subscribed sales of 3.94 billion yuan as compared with 1.36 billion yuan year ago, it added.
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