Poly Developments adds six real estate projects

Poly Developments and Holdings Group Co., Ltd. (SSE: 600048) has announced the acquisition of six new real estate projects, according to a filing with the Shanghai Stock Exchange. These projects are located in Beijing, Foshan, Tianjin, Xi'an, and Kunming. The total planned gross floor area for these projects is 613,932 square meters. The total amount needed to be paid by Poly Developments is 775.018 million yuan. The Beijing projects involve residential land in the Chaoyang district. Other projects are residential plots in the cities of Foshan, Tianjin, Xian and Kunming. Poly Developments holds varying equity percentages in the projects, ranging from 30% to 100%.