Core Insights - Poly has surpassed Greentown in land acquisition in Xi'an, becoming the top real estate company in terms of land spending for the first ten months of 2023, with an investment of 50.58 billion yuan [1][2] - The land market in Xi'an has seen significant changes, with a total of three plots exceeding 2 billion yuan in transaction value this year [4][12] Group 1: Land Acquisition Rankings - The top three companies in land acquisition in Xi'an for January to October 2023 are Poly Development (50.58 billion yuan), Greentown China (45.9 billion yuan), and China Merchants Shekou (23.1 billion yuan) [1][2] - Poly's recent acquisition of 122 acres in the Qinglongsi area for 23.411 billion yuan has contributed significantly to its lead [2][3] Group 2: Market Dynamics - In the first ten months of 2023, 13 out of the top 20 land-acquiring companies in Xi'an are state-owned enterprises, while 7 are private enterprises [3] - The high-value land transactions are primarily driven by large-scale plots, all exceeding 100 acres, which are typically acquired by major state-owned enterprises [5][6] Group 3: Future Expectations - The land market in Xi'an is anticipated to see a revival in December, similar to the previous year, with expectations of multiple high-quality land plots being made available [11][12]