China Overseas Land & Investment (0688) announced contract sales last month were down by 5.4 percent to 26.78 billion yuan (HK$29.14 billion). The gross floor area was 1.48 million square meters, down by 9.6 percent year-on-year. For the first five months, the accumulated contracted sales were around 114.45 billion yuan, dropping by 5.9 percent, from a year earlier. Accumulated gross floor area fell by 6.5 percent. As of the end May, the China Overseas companies had recorded subscribed property sales of 25.885 billion yuan, which are expected to be turned into contracted property sales in the following months.

Source: The Standard June 04, 2020 10:07 UTC