China Resources Land sees recurring revenue rise in March

China Resources Land Limited (HKEX:1109) today announced unaudited operating figures for the month ended March 31, 2025, showcasing positive growth in recurring revenue. The Group's recurring revenue for March reached RMB4.00 billion, marking an 8.5% year-on-year increase. Rental income from investment properties contributed significantly, totaling RMB2.57 billion, up 12.3% YoY. For the first three months of 2025, the cumulative recurring revenue reached approximately RMB12.39 billion, a 10.6% YoY rise, with rental income from investment property business amounting to RMB8.03 billion, a 12.6% YoY increase. Gross contracted sales for March amounted to RMB26.1 billion, with a contracted gross floor area (GFA) of approximately 0.906 million square meters, down 13.3% and 27.9% YoY respectively. For the first three months of the year, gross contracted sales reached approximately RMB51.2 billion with a GFA of approximately 1.979 million square meters, an increase of 0.9% but down 11.8% YoY respectively.