Poly Real Estate Group Co Ltd, a leading Chinese property developer and a subsidiary of state-owned Poly Group, on Sep. 9 announced that it sold 417,800 square meters of properties for a total of RMB 3.46 billion in contracted sales revenue, sources reported.

In the first eight months of this year, the real estate developer’s contracted sales revenue was RMB 27.92 billion, a year-on-year jump of 157.20%. Contracted sales area was 3.39 million sq m, a year-on-year jump of 155.46%.

Last month, Poly Real Estate spent a total of RMB 2.91 billion acquiring three pieces of land, one each in Shenyang, Tianjin and Foshan.

The Shanghai-listed company announced late last month that it sold 2.52 million sq m of properties in the first half of this year, equivalent to 64.4% of the area sold by China Vanke Co Ltd<000002><200002>, while its RMB 21.05-billion sales revenue was equivalent to 72.4% of Vanke’s, according to an earlier report from China Knowledge.