Hong Kong, 10 June 2009 Guangzhou Investment Company Limited ( Guangzhou Investment or the Company ) (HKEx Stock Code: 0123) announced that the Company has recently acquired, through its 95% owned subsidiary, the Jiangmen Property I and the Jiangmen Property II (collectively the Jiangmen Properties ) in Jiangmen City, Guangdong Province as well as the Pearl River New City D8-C3 Property in Tianhe District, Guangzhou City, Guangdong Province.
Guangzhou Investment acquired Jiangmen Property I and Jiangmen Property II for considerations of RMB476 million and RMB492 million, respectively, on 2 June 2009. The Jiangmen Property I has a total site area of approximately 101,000 square meters and a permissible gross floor area of up to approximately 233,000 square meters; whilst the Jiangmen Property II has a total site area of approximately 87,000 square meters and a permissible gross floor area of up to approximately 199,000 square meters.
Both plots of land are permitted for both commercial and residential usage. The Jiangmen Properties are adjoining each other and located in the municipality-level administrative district and the developing central business area in Jiangmen City. The lands are located in the central area for urban development and command unique scenic resources.
Guangzhou Investment also acquired the Pearl River New City D8-C3 Property today in Tianhe District, Guangzhou City for a consideration of RMB345 million. The Pearl River New City D8-C3 Property has a total site area of approximately 6,349 square meters and a permissible gross floor area of up to approximately 22,514 square meters. It is permitted for residential usage and is the last plot of residential land in the Pearl River New City.
Jiangmen City is a unique city in the city cluster of Zhuhai, Zhongshan and Jiangmen in Pearl River West. With the roll-out of the State s Reform & Development Plan for the Pearl River Delta Region , Jiangmen will become an increasingly prominent city and will witness the development of a promising real estate market. The Pearl River New City in Guangzhou City an integration of finance, commerce, culture and recreation, administration and residence, is the city s central business district in the 21st century, embodying a wealth of development prospects.
Mr. Lu Zhifeng, Chairman of Guangzhou Investment, said, The Jiangmen Properties are well-located and is well poised to capture the increasing demand for residential properties in the Jiangmen City. Meanwhile, the acquisition of the Pearl River New City D8-C3 Property will enhance the overall asset quality of Guangzhou Investment and will achieve substantial synergies with the Company s other property assets in the area, such as the Guangzhou International Finance Centre.
Guangzhou Investment Company Limited
Guangzhou Investment Company Limited (the Company ) was listed in Hong Kong in 1992 and is one of the top 10 integrated property developers in Guangzhou. The Company s principal businesses include property development and the investment in and operation of toll roads, with its businesses mainly concentrated in the Guangzhou area.
Two subsidiaries of the Company are independently listed in Hong Kong, of which GZI Transport Limited (HKEx Stock Code: 1052) was listed in 1997 and is principally engaged in the operation of toll road businesses, while GZI Real Estate Investment Trust (HKEx Stock Code: 0405) was spun off and listed in 2005 and is principally engaged in the operation of leasing properties.