Aoyuan Acquires Residential Land Parcel in Luogang in Huangpu District of Guangzhou
Date：2014-06-13
Link with Guangzhou Luogang Aoyuan Plaza to Create Synergy
(13 June2014 – Hong Kong) China Aoyuan Property Group Limited ("Aoyuan" or the "Company", Stock Code: 3883), one of the leading property developers in Guangdong Province, China, is pleased to announce that the Company has successfully acquired via auction a plot of residential land inLuogang, Huangpu District of Guangzhou for RMB315millionthroughajoint venturerecently. Covering a site area of 9,611 sq.m., the land parcelhas a total gross floor area(GFA)of approximately 33,600 sq.m.Aoyuan ownsa 51% equity interest in the joint venture.
Located atop Xiangxue metro station,the terminus station ofline 6 of the Guangzhou metro–which is scheduledto openin 2015, the land parcel enjoys a primelocation in the commercial, financial and political centre of Luogang.It is within 1.5 kilometres of administrative support facilities such asthe New Huangpu (Luogang) District Government, GuangzhouInternational Performing Arts Center,and is supported by comprehensive ancillary facilitiessuch astop-tier provincial schools that includethe Culture and Education Center, Yulan College and Xiangxue Primary School situated to the north.
Connected to Guangzhou LuogangAoyuan Plaza,a total GFA of 300,000 sq.m. large-scaleintegrated commercial project, the land parcelwill be planned and developed altogether as a single projectso as to maximize project value.The project is in close proximity toanother Aoyuan’sproject in Luogang, namelyGuangzhou AoyuanSpring Garden, which received overwhelming response andoutstanding performance in its three launches in 2013with total contracted sales of RMB 1.27 billion, awarded twice champion of stage sales of properties in Guangzhou. Riding on thesales momentum of Guangzhou AoyuanSpring Garden, the brand new product of"Xiangxue Apartments" at Guangzhou LuogangAoyuan Plaza, which caters toend-user demand,received an enthusiasticresponse since the opening of the show flats in May this year and is scheduled to be officially launched for sale in June.