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Poly Real Estate's sales up 40.82% in Aug

Sep. 10, 2012 (China Knowledge) - Poly Real Estate Group Co Ltd<600048>, a property subsidiary of state-owned China Poly Group Corp, has announced its contracted sales surged 40.82% YoY to RMB 8.48 billion in August this year.

The sales last month was 6.7% less than it realized in July 2012.

The developer said in a statement filed with the Shanghai Stock Exchange that it sold 755,100 square meters of properties in August, 42.63% more than in the same month of last year.

In the first eight months, Poly Real Estate's sales amounted to RMB 67.87 billion, up 34.29% YoY, while its sold area grew 34.08% from the same period of 2011 to 5.91 million sq m.

China Vanke Co Ltd<000002><200002>, the largest publicly traded residential properties developer in the country, said earlier that its property sales rose 8.3% YoY to RMB 11.35 billion in August, China Knowledge reported earlier.

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