Aoyuan Acquires a High Quality Commercial and Residential
Project in Chengdu to Further Optimize Land Bank
in Core Area of Central and Western China
(8 June 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 successfullyacquired a 70% equity interest in a high quality commercial and residential project in Chengdu, Sichuan through equity acquisition. The project has a total GFA of approximately 644,000 sq.m.. The total consideration is RMB200 million, which is determined with reference to the paid-upregistered capital and net assets value of the target company.
The project is well located at the inner side of East Middle Ring Road in Chengdu, and is only a 20-minute drive away from Tianfu Square in the city center.Boastingconvenient transportation,the project is located aboveCuijiadian Station of Metro Line 7 (under construction) and only one kilometre away from Wannianchang Station of Metro Line 4. There are multiple bus routes passing by the project. In addition, the project enjoys a 10-minute drive from East Chengdu High Speed Railway Station, the largest integrated transportation hub in Southwest China.The auxiliaries in the vicinity are fully developed.Prestigious schools are within walking distance, such as Chenghua Primary School, Liewu High School and Chengdu University of Technology.
Aoyuan management commented, “Chengdu is designated as the sixth national central city of China after Beijing, Shanghai, Tianjin,Guangzhou and Chongqing. With dynamic development in high-tech and modern services industries, GDP and its growth rate of Chengdu have ranked high in China, creating a strong cluster effect on industries and population that leads to a robust real estate market. The acquisition will enhance Aoyuan’s landbank in the core area of Central and WesternChina and reinforce its strategic layout in key regions. Looking forward, Aoyuan will maintain its prudent land acquisition strategy and continue to diversify land acquisition channels, so as to facilitate its sustainable business development, thus delivering fruitful returns to its shareholders.”