Kaisa Successfully Acquired Two Land Parcels in Jiangsu Province

Kaisa Successfully Acquired Two Land Parcels in Jiangsu Province
of planned GFA aggregating over 200,000 sq. m.
for approximately RMB300 million

(17 November 2010, Hong Kong) Kaisa Group Holdings Ltd. ( Kaisa or the Company , together with its subsidiaries, the Group ; stock code: 1638), a renowned property developer in Mainland China, announces today that the Group was the successful bidder in land auctions for two land parcels located in Zhouzhuang Town of Jiangyin City in Jiangsu Province, China at an aggregate consideration of approximately RMB306 million. The sites cover 103,589 sq. m. with planned GFA of approximately 218,597 sq. m. The land parcels are for residential and commercial development purposes.

Both sites are situated south to Xindong Road and north to Zhigong Road in north Zhouzhuang, Jiangyin. The first land parcel was acquired at a consideration of approximately RMB201 million with planned GFA of 114,067 sq. m., and average land cost per GFA is RMB1,766 per sq. m.. The second land parcel was acquired at a consideration of approximately RMB105 million with planned GFA of 104,530 sq.

m., and average land cost per GFA is RMB1,033 per sq. m. Both sites are planned for multi purpose property development use, including mid-high end residential, commercial and hotel development. The presale launches are expected to take place in 2011.

Commenting on the land acquisition, Mr. Kwok Ying Shing, Chairman and Executive Director of Kaisa, said, Since our land acquisitions in Jiangyin and Taicang in September, we have landed further footholds in Yangtze River Delta Region within the last two months. The land acquisitions have not only strengthened our presence in the region, but also enable the Group to establish a firm footing for our nationwide expansion against a backdrop of stringent government austerity measures. We shall continue to reinforce our leading position in Pearl River Delta while proactively expand into Yangtze River Delta, Chongqing-Chengdu region, Central China region as well as Pan-Bohai Rim, where suitable opportunities arise and at reasonable cost, in an effort to become a leading property developer in China with nationwide coverage.