Both projects acquired are location in Zhuzhou, the second largest city in Hunan Province. Zhuzhou is not only the major regional central city in the Central district, but also the largest railway hub in between the southern part of Central China, Eastern China, Southern China and South-western district. The project land of Tian Jun Properties is Xiang Bo Bao International Project, which located at Shifeng District, covering a total site area of about 57,000 sq.m with a plot ration of 2.7; while the project land of Cheng Tou Properties is Ai Ding Bao Project, which located at Hetang District, covering a total site area of about 16,960 sq.m with a plot ration of 4.

Commenting on the acquisition, Mr. GUO Zi Wen, Chairman of Aoyuan, said, "Despite the recent downturn of the global financial markets, the Group is optimistic about the economy of the PRC and the prospects of the PRC property market. These acquisitions are the Group"s first step in Hunan Province"s property market. Zhuzhou City, the second largest city in the Hunan Province, is located in one of the largest economic zones of Central district – the ‘Changzhutan Circle", which is characteristic of rapid property development. Hence, the two acquired projects have huge potential of development. They do not only strengthen the Group"s land bank portfolio, but also help boosting its regional diversification strategy, which in line with our long-term development strategy. Going forward, leveraging on its experience in the development of Southern China as well as other regions such as Chongqing and Shenyang, the Group will focus on developing commercial projects in cities which show huge growth potential with strong rigid demand and less affected by regulatory policies. We aim at striving for stable and attractive returns for our shareholders.