Real estate developer Agile Group Holdings Ltd. (3383.HK) on Monday reported its presales nosedived about 60% year-over-year to 290 million yuan ($43 million) in October. Its gross floor area sold during the month also feel by nearly 60% to roughly 34,000 square meters. On a more positive note, the company’s average selling price per square meter edged up 2.6% to about 8,739 yuan.
For the first 10 months of this year, the company’s aggregate presales stood at roughly 5.18 billion yuan, encompassing a total gross floor area of about 587,000 square meters, down 30% and 28% year-on-year, respectively. Meanwhile, its average selling price fell by a modest 3% to approximately 8,825 yuan per square meter.
Shares of Agile opened flat at HK$ 0.117 on Tuesday. The stock is down over 70% from its 52-week high.
By Lau Chi Hang
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