Poly Real Estate Group acquires site in Haitang Bay for RMB430 million
Poly Real Estate Group, a large state-owned real estate company held by China Poly Group, announced that it has recently won the bid for a piece of commercial land in Haitang Bay, Sanya.
The land parcel offers a site area of approximately 100,000 square meters. Poly paid a total of RMB430 million for the land use rights. The Company plans to develop high exhibition supporting facilities on this land parcel.
Meanwhile, the Company also acquired 7 land parcels of approximately 167,800 square meters in Xiuying Port, Haikou for RMB 1.19 billion.
Sanya’s land market is keeping stable growth this year. Many domestic large-scale real estate enterprises including Greenland, Xinyuan, and Poly have entered the Sanya market, a premier vacation destination in China.
SOURCE: WOS Team
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