China Aoyuan Group Limited

Aoyuan Extends its Footprint to Panyu"s Next CBD in Guangzhou

Time：2012-01-12

Hong Kong, 12 January 2012 – China Aoyuan Property Group Limited ("Aoyuan" or "the Group", SEHK Stock Code: 3883) announced a wholly-owned subsidiary of the Company, acquired the Joint Development Right at a low price. The subsidiary will establish a Joint Venture Company with cooperative partner to develop a commercial land in Panyu District, Guangzhou City. Pursuant to the joint venture agreement, Aoyuan will contribute RMB154,700,000 to the Joint Venture Company. Upon completion of the joint venture agreement, the Group will own 65% equity interest of the Joint Venture Company and the land use rights. The establishment of the Joint Venture Company demonstrates that Aoyuan has extended its footprint to Wanbo CBD of Panyu New City in future.

Situated at Panyu District in Guangzhou, the land lies on the core area of Wanbo CBD. The land occupies a total site area of approximately 59,901.10 square meters and the total GFA is approximately 300,000 sq.m.. Aoyuan and its cooperative partner will jointly develop the project land into a city landmark complex that consists of shops, offices, international apartments and entertainment and recreation center, which brings fashionable, modern and convenient experience to the Guangzhou public.

Aoyuan has accumulated abundant experience in commercial property development. The Group has developed several successful large- and medium-scale commercial properties in Guangzhou in particular, including the large comprehensive commercial project "Aoyuan Plaza", which will be sold out soon; newly launched "Aoyuan Health Plaza" with warmly response from the market, as well as the "Hai Jing Cheng" in Nansha, which caused sensation in every of its sales.

Mr. Guo Zi Wen, Chairman of Aoyuan, said, "The Group is delighted to acquire a quality commercial land in Panyu. Wanbo CBD is the traffic junction connecting Guangzhou to other cities in the Pearl River Delta. According to the 12th Five-year Plan of Guangzhou Municipal Government, it will be one of the developing economic headquarters in Panyu District. It enjoys unparalleled geographical advantages and transportation convenience, which is similar to the two lands in Guangzhou South Station we acquired recently. We are confident that, with Aoyuan"s experience in commercial property development, we will be able to make the commercial property projects a success. "

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