Located in the heart of Chongqing Nanan Chayuan New District, the land parcel lies at Tongjiang Avenue, Chongqing’s central axis, and is supported by convenient transportation facilities. It is surrounded by comprehensive supporting facilities such as large shopping centers, banks, schools and health care and entertainment facilities, demonstrating remarkable geographical advantages. The Chayuan New District is at the core of a new town in eastern Chongqing, with robust end-user housing demand, provides an outstanding living environment and carries huge development potential. Including this newly purchased project, Aoyuan currently owns a total of six projects in Chongqing.

　　Aoyuan commented, "The successful acquisition of this land parcel is a high-quality addition to our existing land reserves. The Group has been rooted in Chongqing since 2007, and gained significant brand recognition in the market, especially with its two existing projects in the Nanan district of Chongqing - Chongqing Aoyuan Shuiyunjian and Chongqing Aoyuan City Plaza - both of which possess the advantages of excellent quality and premium location, with both being highly welcome by the market. The successful acquisition of this commercial and residential land parcel is in line with Aoyuan’s ongoing development strategy of "developing commercial and residential properties in parallel", and further expands Aoyuan’s presence in Chongqing. It will bring synergies to Aoyuan’s existing projects in the district through resource sharing, which helps to lower development costs. Furthermore, it is poised to deepen the strategic distribution of Aoyuan in Chongqing and southwest region of China. Leveraging the experience and strengths of the Group’s professional management team, Aoyuan will continue to uphold its development strategy of "rapid development and rapid sales" to provide excellent and distinguished products and service so as to achieve leaps and bounds through its persistent efforts.