Poly Developments adds three real estate projects, expands portfolio

Poly Developments and Holdings Group Co., Ltd. (SSE:600048) has announced the acquisition of three new real estate projects. These include a residential project in Shanghai's Songjiang District (69,042 sqm land area, 69,732 sqm planned gross floor area, 205,185 CNY ten thousand investment), a residential project in Shijiazhuang's Yuhua District (55,615 sqm land area, 144,042 sqm planned gross floor area, 96,200 CNY ten thousand investment), and a project in Qingdao's Shinan District (21,782 sqm land area, 63,166 sqm planned gross floor area, 27,399 CNY ten thousand investment). Poly Developments holds 100% equity in the Shanghai and Shijiazhuang projects and 31% equity in the Qingdao project. The total planned gross floor area for the newly acquired projects is 276,941 square meters, with a total investment commitment of 328,784 CNY ten thousand.