property

Logan property contracted sales jump 8.7 pct in October

Chinese property developer group Logan Property Holdings Company Limited reached RMB3 billion (MOP3.5 billion/US$443.8 million) in contracted sales in October, 2016, an 8.7 per cent year-on-year increase from the same period of last year, according to a company filing with the Hong Kong Stock Exchange.
In October, the group sold 247,000 square metres of gross floor area via contracted sales, with an average selling price of around RMB11,868.
For the first ten months of this year, the group’s contracted sales reached RMB24.6 billion, a notable increase of 53.4 per cent year-on-year, with nearly two million square metres of contracted saleable gross floor area.
The group’s business focuses on the Pearl River Delta Region, in particular, Shenzhen. It also operates in Zhuhai through its subsidiaries Zhuhai Logan Property Development Co, Ltd. and Zhuhai Bojun Property Development Co, Ltd.
Last year, the group acquired a 15,876 square-metre land plot in Zhuhai for RMB978 million, according to a company release from last year.
The land parcel is located in Gongbei, near the Macau Border Gate and the entryway for the future Hong Kong-Zhuhai-Macau Bridge, and is destined for a residential project named Jiulong Garden Bay.