Poly Real Estate Group Co Ltd<600048> today announced that its contracted sales revenue hit RMB 21.05 billion in the first half of this year, a year-on-year jump of 168.18%. Contracted sales area surged 164.41% year on year, reaching 2.52 million square meters (sq m), sources reported.

The Shanghai-listed real estate developer's contracted sales revenue was RMB 6.34 billion in June and RMB 4.2 billion in May, while contracted sales area was 703,000 sq m in June and 573,900 sq m in May.

Last month, the property enterprise spent a total of RMB 4.2 billion on land purchases, adding land reserves with 820,000 sq m in potential floor area.

On Jun. 8, Poly purchased three pieces of land for RMB 72.87 million in total in Jiangcheng District, Yangjiang City, Guangdong Province. The three parcels cover a combined land area of 209,100 sq m.

On Jun. 25, the company purchased five land lots for RMB 3.81 billion in total with combined land area of 596,500 sq m.

On Jun. 29, Poly acquired a piece of land for RMB 381 million in Heping District, Tianjin. The parcel covers a land area of 14,300 sq m and will have a floor area ratio of less than 5.