The newly acquired site is situated in a prime location at Chongqing and is in the vicinity of the Group"s successful flagship project "Chongqing Aoyuan·City of Health". The acquired site is of great potential of development as it is strategically located at the centre of an extensive transport network with excellent living amenities. In the past, Aoyuan achieved outstanding sales performance in Chongqing. According to the official statistics published by Bureau of Land Resources and Housing Management of Chongqing Municipality, "Chongqing Aoyuan·City of Health" was nominated TOP 10 in a monthly ranking for Chongqing single site sales for 10 times, and also ranked No. 1 in terms of sales area and unit sales for a single site in Chongqing real estate market in 2009. The record proves the Group"s thorough understanding in the property market condition of Chongqing and high operating and management capacity of projects.

Commenting on the successful land acquisition, Mr. GUO Zi Wen, Chairman of Aoyuan, said, "Aoyuan adheres to a prudent policy on land acquisition. We would undertake appropriate investment opportunities in accordance with our cash flow and development strategy. The successful acquisition of this site at a competitive price will further strengthen the Group"s land portfolio and facilitate the Group"s development and brand promotion in Chongqing. Looking forward, the Group will continue to focus on areas with strong rigid demand and huge growth potentials. To maximizing returns for our shareholders, we will adhere to our development concept of Building a healthy, low-carbon lifestyle", and continue to develop commercial and residential properties in parallel."