(27 Apr 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 acquired 70% equity interest of a high quality residential project in Pingshan,Shenzhen, at a total consideration of approximately RMB2.29 billion. The project has a total GFA of approximately 217,800 sq.m..

The project is well located in Pingshan New District, Shenzhen, and the district will be developed into an ecological community integrating leisure, shopping, and waterfront recreation. The project is only 5 minutes’ drive from Pingshan Railway Station (high-speed) where it takes about 15 minutes to Shenzhen North Railway Station (high-speed). Pingshan Railway Station is the first stop of XiamenShenzhen high-speed railway line entering Shenzhen, and it will become the second integrated transport hub following Shenzhen North Railway Station. The project is 45 minutes’ drive from the city center of Shenzhen. With the completion of Nanping Expressway (Phase III) in 2017 that links Pingshan, Longhua and Qianhai, it will take only 30 minutes from the project to different districts of the city. The project is also in close proximity to auxiliary facilities including shopping center, school,science and technology industrial park and hospital.

Aoyuan management commented, “Shenzhen has maintained rapid economic development since the implementation of reform and opening-up. The strong economy in Shenzhen has driven up the purchasing power and led to a buoyant real estate market. The scale of economy in Pingshan New District has doubled since its establishment three years ago. The district is expected to sustain its fast growth momentum in the future with high development potential. The acquisition will enhance Aoyuan’s land bank in first-tier cities and optimize its strategic layout in the Pearl River Delta. Looking forward, Aoyuan will continue to diversify land acquisition channels, consolidate its strong position in advantageous areas, and facilitate its sustainable business development, thus delivering fruitful returns to its shareholders.”