(9 Nov 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 two high quality residential projects in Gordon and Turramurra,SydneyAustralia for a total consideration of A$55.5 million (equivalent to approximately RMB288million). 

 

The Gordon project offers 144 residential apartments with a total GFA of approximately 12,800sq.m., while the Turramurra project hasa collection of 79 residential apartments with a total GFA of approximately6,700sq.m.. Both projects have been granted development approvals, and are expected to be marketed for presales in the near future.

 

Both projectsare in key north shore locationsof Sydney andare within 5 minute walking distance to their respective train stations and a 30 minute drive from Sydney CBD.The north shore is a leafy and affluent residential area to the north of Sydney and is reputed to offer its residents a high quality of life. The projects also enjoy easy and convenient connection to various well-known schools, including Pymble Ladies College, Gordon East Public School, and Knox Grammar School, and are only a 15-minute drive away from the globally renowned Macquarie University and University of Technology Sydney (Lindfield Campus).

 

Aoyuan management commented, “Aoyuan has established a proven track record of well-recognised projects in Sydney, namely One30 Hyde Park and Maison 188 Maroubra, by leveraging offits localisation strategies and Australian know-how. We believe the acquisitionswill bolster up ourportfolio which will further lead us to build a sustainable development business in Australia.Riding on its strong execution capabilities in overseasprojects, Aoyuan will further facilitate parallel development in domestic and overseas markets to enhance the brand awareness and to advance the progress towards internationalisation, thus delivering fruitful returns to its shareholders and investors.”