(24 Oct 2016 - Hong Kong) China Aoyuan Property Group Limited (“Aoyuan” or the “Company”, Stock Code: 3883), a renowned property developer in China, is pleased to announce that the Company has successfully acquired a 100% equity interest in a quality residential project in Guangzhou at a total consideration of RMB650 million. The project has a total GFA of approximately 138,000 sq.m., representing an average land cost of approximately RMB4,700 per sq.m..

The project is well located at Zengcheng District, Guangzhou and is only a half hour’s drive away from Zhujiang New Town and Tianhe District of the city center in Guangzhou. Enjoying convenient transportation, the project is only 500 meters away from the Yongning exit of the Guangzhou-Huizhou expressway and right next to The Guangzhou East transportation hub currently being developed, which is the junction of Guangzhou metro Line #13 and #16, Guangzhou-Dongguan-Shenzhen City Rail, Guangzhou-Shenzhen and Guangzhou-Shanwei high-speed railway. The project is also in close proximity to other prominent communities with comprehensive auxiliary facilities including large-scale shopping centers, primary and secondary schools and hospitals.

Aoyuan management commented, “The solid economic strength of Guangzhou has driven its strong housing demand while the property market of Guangzhou is relatively mature and rational. Aoyuan remains positive about the long-term development of Guangzhou market. The acquisition will further replenish Aoyuan’s land bank in Guangzhou, creating synergy with the existing projects in Guangzhou as well as optimizing Aoyuan’s strategic layout in first-tier cities and the Pearl River Delta Region. Looking forward, Aoyuan will maintain its prudent land acquisition strategy and strengthen its strategic layout, so as to facilitate its sustainable business development, thus delivering fruitful returns to its shareholders and investors.”