Aoyuan Acquires a Land Parcel in Meizhou for RMB175 Million,First Foothold in Eastern Guangdong to Enhance Land Bank in the Province
Time:2013-08-29
(August 2013 - Hong Kong) China Aoyuan Property Group Limited ("Aoyuan" or the "Company", together with its subsidiaries, the "Group"; Stock Code: 3883), a leading property developer in Guangdong Province, China, is pleased to announce that it has won at an auction for land use rights over a land parcel in Meizhou City, Guangdong for commercial and residential property development.
Located right at the centre of Qinyang Peninsula of Meizhou City in eastern Guangdong, the land parcel has a site area of 145,460 sq. m. and with gross floor area aggregating 259,500 sq. m. The site is bounded on three sides by the meandering Meijiang River, and is one km from Dongshan Education Base and 2.5 km from the Meizhou City Government building. There are comprehensive urban facilities in the area around the site including Jiaying Opera House, International Merchant Guild Hall, Hakka Opera House, TungShun Middle School, a vocational training institute, museums and five-star hotels. Meizhou City achieved a gross domestic product of RMB89.2 billion in 2012 and now has a population of 5.17 million, of which 4.24 million are permanent residents. The per capita disposable income of the city is RMB17,000.
Mr. Guo Ziwen, Chairman of Aoyuan, said, "The acquisition of this land parcel in Meizhou represents the Group’s first inroad to establish a foothold in the property market in eastern Guangdong Province. It will enhance our land bank in the province. We have already developed an elaborate three-year plan for 2013-2015, and have a sales target of RMB7.5 billion for the full-year in 2013 which will be 50% more than that of last year. With the Group’s investment strategy, accomplishments and mature business model, we are confident about achieving rapid growth in the next three years, and looking forward to the good results."
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