Aoyuan Acquires Quality Project in Huizhou, Guangdong for RMB784 million
Optimizes Footprint in Guangdong-Hong Kong-Macau Big Bay Area
Date：2017-08-07
(7 August 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 100% equity interest of a quality residential and commercial project in Huizhou, Guangdong Province, for a total consideration of RMB784 million. The project has a total GFA of approximately 356,000 sq.m., representing an average land cost of approximately RMB2,200 per sq.m.
The project is well located in Huizhou Zhongkai High-tech Industrial Development Zone, Guangdong, and is also within the “one-hour living circle” in Shenzhen-Dongguan-Huizhou Golden Delta. It takes only a 10-minute drive to Zhongkai Station of Shenzhen-Huizhou Intercity Railway. Apart from Dongguan-Huizhou Intercity Railway, the addition of Shenzhen-Huizhou Intercity Railway (West Line) will significantly reduce the travel time between Shenzhen and Huizhou, which will take only 20 minutes to Qianhai, Shenzhen. Zhongkai High-tech Industrial Development Zone is a national high-tech industrial park with numerous multinational companies such as Sony, Samsung and Siemens. With more growth companies moving in, Zhongkai High-tech Industrial Development Zone has been showing the growing industrial cluster effect and immense potential.
Aoyuan management commented, “The development of Guangdong-Hong Kong-Macau Big Bay Area has been raised to a national strategic level. With the ongoing development of the transportation network, the integration between the Big Bay Area cities is accelerating. A world-class metropolitan area with complementary industries and strong economic capabilities is underway. As a Guangdong-based developer, the Group has been developing projects in Pearl River Delta since establishment. This acquisition will not only create synergies with the Group’s existing projects in Shenzhen, Dongguan and Huizhou, but will also further strengthen its strategic layout in the Big Bay Area. 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.”