(1 Nov 2015 - 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 acquired the 188 Maroubra Road project in Maroubra, a beachside district in eastern Sydney, at a consideration of approximately A$18.0 million (equivalent to RMB86.4 million). The project is designed to comprise 70 residential apartments with a total GFA of approximately 5,800 sq.m..

The project is well located in the heart of Maroubra district. It is in close proximity to a large shopping mall, namely Pacific Square, which offers comprehensive amenities. It is also served by various well-known schools, and is only an 8-minute drive away from the world-class University of New South Wales (“UNSW”), and a 15-minute drive away from Sydney CBD via the primary arterial road, Anzac Parade which is serviced by numerous bus routes to UNSW and Sydney CBD, thus providing easy and convenient connection from the project. Furthermore, the future addition of the light rail extension to Maroubra from Sydney CBD will also facilitate commuting between various locations.

The project also enjoys a 10-minute walking distance from Maroubra Beach, and a 10-minute drive away from two globally renowned beaches, Bondi Beach and Coogee Beach. Maroubra Beach is not only the longest beach in eastern Sydney, but also Australia"s second only National Surfing Reserve. A scenic coastal walk connects Maroubra Beach to Bondi Beach and Coogee Beach. Boasting pleasant scenery, the Maroubra district is popular with both locals and visitors. In addition, the district is also an ideal residency choice for the staff and students of UNSW due to the comprehensive amenities.

Aoyuan management commented, “Aoyuan acquired its first overseas project, One30 Hyde Park in March. It is an iconic site that overlooks Sydney’s famous Hyde Park and is close to other landmarks including Sydney Tower and Chinatown. Backed by a strong local team that has a rich development experience in developing key Sydney residential property sites, One30 Hyde Park has impressed the local market with outstanding sales performance. We are confident that this project will achieve the sales target of RMB1 billion. We strongly believe the acquisition of the 188 Maroubra Road project will further reinforce the Group’s strategic expansion plans which will also build a strong brand awareness in Sydney. Riding on its success in Australia, Aoyuan will continue to facilitate parallel development in domestic and overseas markets, thus delivering satisfactory returns to its shareholders.”

Location of the 188 Maroubra Road project

the Maroubra Beach

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