Poly Developments won the 3.14 billion yuan bid for residential land in Zhuanqiao Town, Minhang District with a premium rate of 12.95%.

On June 19th, the fifth batch of five land parcels in Shanghai entered the on-site bidding phase. Among them, the land parcel MHC10601 unit 01-22A-10 in Minhang District attracted three bidders to participate in the auction. After 40 rounds of bidding, Shanghai Poly City Development Co., Ltd., a subsidiary of Poly Development, won the bid with a total price of 3.14026 billion yuan, without reaching the termination price, with a premium rate of 12.95%, and a transaction floor price of 38,775 yuan per square meter.