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Poly Real Estate's property sales up 45.40% YoY in May

Jun. 8, 2012 (China Knowledge) - Poly Real Estate Group Co Ltd<600048>, a major property developer in China, has announced that its contractual sales rose 45.40% YoY to RMB 10.77 billion in May this year.
The company said in a statement that its sales area surged 48.46% YoY to 916,500 square meters last month.

In the first five months of this year, Poly Real Estate saw its contractual sales jump 23.76% YoY to 34.78 billion and sales area amounted to 3.07 million sq m, 26.36% more than in the same period of last year.

The developer said that a Chengdu-based subsidiary acquired a plot in the city's Qingyang District for RMB 468.88 million. The plot, with a land area of 54,081 sq m, will be used for a mixed-use development that will have floor area of 162,243 sq m.

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