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Poly Real Estate's sales up 42% in Oct

Nov. 8, 2012 (China Knowledge) - Poly Real Estate Group Co Ltd<600048>, a property subsidiary of state-owned China Poly Group Corp, has announced its property sales surge 42.09% YoY to RMB 7.7 billion in October this year.

The sales last month was 0.75% less than it realized in September 2012.

The developer said in a statement filed with the Shanghai Stock Exchange that it sold 733,000 square meters of properties in October, 28.73% more than in the same month of last year.

In the first ten months, Poly Real Estate's sales amounted to RMB 83.33 billion, up 32.91% YoY, while its sold area grew 33.49% from the same period of 2011 to 7.43 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 32.5% YoY to RMB 13.75 billion in October, China Knowledge reported earlier.

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