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Poly Real Estate doubles sales
12 May 2008
According to the latest figures from the company, it sold 288,500 square metres of property during last month worth an estimated $301 million (£150.5 million).
The company's value has grown 106 per cent compared with the previous month and 150 per cent compared with the same period of last year.
Poly Real Estate increased its land mass by three million square metres during the first quarter of 2008, at a time when the real estate sector was going through a period of volatility said the firm.
Guangzhou, Shanghai and Wuhan have all been locations for the developer to launch up ten developments while it sold the 556 homes that make the Huangzhou Poly Xiziwan Development, the first price-capped home development to be built in China.
A recent report from Reuters said that the first-quarter profit more than tripled from a year earlier.
The company posted $11 million (£5.5 million) profit during the first quarter of last year.
Source: Adfero
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