Poly Real Estate Group (600048.SH) posted a 37.86 percent year-on-year rise in transaction value to 5.06 billion yuan in July on a 4.75 percent increase in transaction area to 466,800 square meters, reports China Securities Journal, citing a company filing.

The property developer recorded transaction value of 44.52 billion yuan in the first seven months, an increase of 75.1 percent year-on-year. Transaction area was up 24.37 percent to 3.88 million square meters.

Poly Real Estate will jointly invest 20 million yuan with Beijing Anping Investment for the establishment of a pension management company.

In addition, Poly Real Estate will seek to acquire a development in Jimenqiao, Beijing, through the acquisition of the entire equity of Beijing World Expo Hongye Real Estate Development.

The development has construction area of 34,200 square meters, and is planned for both commercial and residential purposes.

Shares of Poly Real Estate were up 2.03 percent to trade at 11.06 yuan at 10:40 today.