Poly Development acquired a residential land in Chengdu at a minimum price of 1.107 billion yuan.

On November 11th, a 50-acre residential land parcel in the Jinsha area of Chengdu was auctioned off. The total land area is 33,545.32 square meters, with a planned construction area of 67,090.64 square meters and a plot ratio of 2.0. The starting floor price is 16,500 yuan per square meter, equivalent to a starting price of 1.107 billion yuan. In the end, the parcel was won by Chengdu Baohuaxinyue Real Estate Development Co., Ltd. at a floor price of 16,500 yuan per square meter, with a total transaction price of 1.107 billion yuan.