(15 May 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 quality commercial and residential land parcel in Jingzhou, Hubei Province, for a total consideration of RMB1.31 billion through land auction. The project has a total GFA of approximately 354,000 sq.m., representing an average land cost of approximately RMB3,700 per sq.m.

 

The project is well-located on Jinxiang Avenue and Gongnong Road, which takes only a five-minute drive to Erenhot-Guangzhou Highway and a 15-minute drive to Jingzhou Highspeed Railway Station. The project is served by various well-known schools such as the Shashi Middle School and the Jingzhou Experimental Primary School. It is also in close proximity to well-developed auxiliary facilities, such as libraries, sports centers and recreational parks.

 

Aoyuan management commented: “Located next to Wuhan on the west, Jingzhou is an important industrial base of the Central and South China and an important port in the midstream of Yangtze river. Jingzhou is also the birthplace of the Chu culture of the “Spring and Autumn” and “Warring States” periods and is a hub of the “Three-Kingdom” culture. With a history dating back over 2,700 years, it has rich tourism resources. In recent years, Jingzhou has been facilitating the transformation and upgrade of its economy to promote the development of its cultural tourism industry. In addition, with acceleration of the pace of urbanization, Shabei New District is the focus of Jingzhou’s development plan with its rapidly growing population and housing demand. Tapping the Hubei market will further strengthen Aoyuan’s strategic layout in the core region of Central and West China. Looking forward, Aoyuan will continue its diversified land acquisition strategy so as to enhance its sustainable and rapid business development, thus delivering excellent returns to its shareholders.”