(24 February 2017 – 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 project in Guangming New District, Shenzhen for a total consideration of approximately RMB985 million. The project has a total GFA of approximately 73,000 sq.m., representing an average land cost of RMB13,369 per sq.m.

 

The project is well located at the intersection of Nanhuan Avenue and Zhenxing Road in Guangming New District, Shenzhen. Boasting convenient transportation, the project is in close proximity to Gongming Square Station of Metro Line 6 (under construction). It is also served by comprehensive amenities such as schools and hospitals. It takes half an hour to drive from Guangming New District to the city center and Shenzhen Bao'an International Airport via multiple north-south highways. Guangmingcheng Railway Station is one of the stops on the Guangzhou-Shenzhen-Hong Kong Express Railway, which forms a half hour travel radius with major cities such as Hong Kong and Guangzhou. Guangming New District has exhibited enormous development potential since the Shenzhen government has actively encouraging the development of hi-tech industries in the district. Renowned as the “Green Lung” of Shenzhen, Guangming New District offers a pleasant living environment with the green space ratio reaching 53%.

 

Aoyuan management commented, “Aoyuan established footprints in Shenzhen in 2016 to optimize its land bank in first-tier and second-tier cities. The acquisition will create synergies with the existing project, while expanding its presence in Shenzhen and further reinforcing the Group’s strategic layout in the Pearl River Delta region. Looking forward, Aoyuan will continue its diversified land acquisition strategy with a focus on Pearl River Delta region so as to facilitate its sustainable business development, thus delivering excellent returns to its shareholders and investors.”