Companies

Poly Real Estate's Jan-May sales top $2b

(Xinhua)
Updated: 2010-06-12 11:03

BEIJING - China's Poly Real Estate Group, the country's second largest property developer by market value, said Friday its contracted sales revenue totaled 15.41 billion yuan ($2.26 billion) in the first five months, up 4.75 percent year-on-year.

Related readings:  Poly Real Estate's sales up 16% in first four months  Poly Real Estate share sale cleared by SASAC  China Poly to raise $1.4b via share sale  Poly Real Estate posts soaring sales in January

The increase was generated on the back of 1.98 million square meters of floor space sold, an 8.79 percent increase from the same period last year, said the company in a statement filed with the Shanghai Stock Exchange.

The company's contracted sales revenue in May stood at 3.19 billion yuan, compared with 4.09 billion yuan in April, as the government's tightening measures to cool the property market took effect.

The developer's A-share price slid 0.28 percent to 7.13 yuan per share at the close Friday.