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FINWIRES

China Resources Land's Contracted Sales Jump 50% in April

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China Resources Land (HKG:1109) recorded contracted sales and a gross floor area (GFA) of around 25.9 billion yuan and 594,000 square meters in April, respectively, up 50% and down 0.1% from the year-ago period, according to a Tuesday Hong Kong bourse filing.

Recurring revenue for the month jumped 7% year over year to roughly 4.23 billion yuan. Of the total, rental income from the investment property rental business climbed 11% to 2.85 billion yuan.

For the four months ended April 30, the property developer's contracted sales rose 2.2% to approximately 70 billion yuan, while GFA slipped 28% to 1.8 million square meters.

Recurring revenue for the period increased 7.4% to 17.6 billion yuan, of which rental income from the investment property rental business jumped 13% to 12 billion yuan.

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