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China Resources Land's Contracted Sales Jump 40% in August

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China Resources Land (HKG:1109) recorded contracted sales of around 18.5 billion yuan in August, up 40.2% from a year prior, according to a Tuesday Hong Kong bourse filing.

The property company's gross floor area (GFA) was 481,000 square meters, down 10.8% from a year prior.

Recurring revenue increased 7.1% to 4.57 billion yuan in the month, of which rental income from the investment property rental business rose 6.1% to 3.02 billion yuan.

For the eight months ended Aug. 31, contracted sales rose 9% to 149.1 billion yuan, while GFA slid 20.8% to 4.1 million square meters.

Recurring revenue for the period climbed 7.3% to approximately 35.5 billion yuan.

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