China Overseas Land & Investment : Sales Fell 5.4% in May

By Martin Mou

China Overseas Land & Investment Ltd. said Thursday that its contracted property sales fell 5.4% from a year earlier to 26.78 billion yuan ($3.76 billion) in May.

Contracted sales for the January-May period dropped 5.9% to CNY114.45 billion, the Chinese developer said.

China Overseas Land & Investment, one of China's largest developers, said it acquired six land parcels in six Chinese cities last month.

The land parcels have an aggregate attributable gross floor area of about 1.97 million square meters, it said.

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