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November 11, 2009

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Poly Real Estate Group Co Property market bounces back

POLY Real Estate Group Co, a leading Chinese listed developer, expects its sales value to increase more than 150 percent in the first 10 months of this year, boosted by the upbeat property market.

The southern Guangdong-based firm sold 4.46 million square meters of homes over past 10 months, up 143.2 percent year on year. The total sales value rose 154.85 percent to 36.86 billion yuan (US$5.4 billion) in the period, it said in a statement to the Shanghai Stock Exchange yesterday. The Chinese property market has picked up momentum since February.


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