Designated for commercial uses, the land is located in the New City Centre in Qiao Nan Street in Panyu. With a site area of approximately 48,000 sq.m., and the plot ratio of not more than 2.6, the land has an average land cost of approximately RMB4,200 per sq.m. Conveniently connected to Huangsha Avenue, Nansha Port Expressway and East-West Ring Road, the land will be developed into "Aoyuan Regimen Plaza" that aims to achieve harmonious integration of commercial value and regimen concepts in the project, thereby enhancing its value-add advantages. This approach adheres to the Group’s commitment to build low-carbon and healthy living communities in China. The Group plans to commence the construction and launch the project for sale in 2011.

As a leading PRC property developer with a strong foothold in Guangzhou, Aoyuan has an in-depth knowledge about Panyu District and a solid track record in the local market, which is marked by a string of selling successes. In particular, the launch of the Group’s commercial project "Aoyuan Plaza", an industry-recognized flagship commercial project in Panyu District, was immensely successful and garnered RMB910 million on the first day of launch with the average selling price of retail units exceeded RMB 30,000/sq.m. Situated in the proximity of "Aoyuan Plaza", the Group’s newly acquired land enjoys similar location advantages and commercial values. With its low land cost and geographic advantages, the Group believes that the new project has huge development potential and will offer promising returns.

Mr. Guo Zi Wen, Chairman of Aoyuan, said, "We are very pleased with our successful bid of the prime commercial land in the core area of Panyu District at the minimum bidding price. We believe the relatively low land cost has laid a solid foundation for steady development of the project, which will result in high investment returns ultimately. The continued success of “Aoyuan Plaza” has further strengthened our confidence in this newly-acquired land that represents the Group’s another step forward in developing commercial properties. Looking ahead, the Group will continue to develop more commercial property projects in a proactive manner, which will help Aoyuan mitigate impacts caused by housing market cycles and macro-control measures while generating stable and considerable economic returns for the Group.”