Kaisa Successfully Acquired Through Land Auctions Nine Land Parcels

Kaisa Successfully Acquired through Land Auctions Nine Land Parcels with an Aggregate GFA of Over 2,300,000 sq. m.
for Total Consideration of Approximately RMB1.3 Billion

(24 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 Company successfully acquired nine land parcels located in Nanchong of Sichuan and Yingkou of Liaoning for residential use with an aggregate consideration of approximately RMB1,292 million in land auctions. These sites cover about 748,563 sq. m. with total planned GFA of approximately 2,370,424 sq. m.

On 19 November, the Company successfully bid a land parcel located in the Zhengyang East Road section of Shunqing District in Nanchong of Sichuan, for a total consideration of about RMB177 million. The planned GFA of the site is about 88,623 sq. m, and the average land cost (after deduction of the estimated allowed tax refunds) per GFA is about RMB1,700 per sq. m. The site will be developed into mid- to high-end apartments.

On 23 November, the Group acquired through public land auctions eight land parcels located in Yingkou of Liaoning. Among them, five land parcels are located in Yingdong New City, which were acquired for a consideration of about RMB517 million. The total planned GFA of the sites is about 1,408,656 sq.

m, and the average land cost per GFA is approximately RMB367 per sq. m. The sites will be developed into high-end residential projects, mainly comprising apartments, townhouses and mid- to high-rise apartments. The other three land parcels are located in the Shifu Road section of Yingkou with a total planned GFA of approximately 873,145 sq.

m. The total consideration is approximately RMB599 million, and the average land cost per GFA is approximately RMB686 per sq. m. The sites will be developed into high-end apartments, which are primarily made up of mid- to high-rise and high-rise buildings.

In addition, the Group has achieved satisfactory sales performance during the year. Up to date, the subscription sales reached RMB8.6 million and contracted sales amounted to RMB8.3 billion. As at 31 October 2010, the Group has ample cash balance of approximately RMB3.8 billion. Added to this is a recent grant of US$39 million unsecured loan by a bank in Hong Kong. The Group s solid and healthy financial position, together with diversified funding channels, will allow it to meet its funding requirements for future development.

Commenting on the land acquisition, Mr. Kwok Ying Shing, Chairman and Executive Director of Kaisa, said, The Group has set up additional presences outside of the Yangtze River Delta region again, following on the heels of our recent acquisition of two land parcels located in Jiangsu. We also intend to expand our investment in the Pan-Bohai Bay Rim region. Guided by the national development plan and policies on the coastal economic belt of China, the Group has mapped out its investment strategies in the coastal cities of the Pan-Bohai Bay Rim region in order to build a firm footing for its macro strategies of nationwide expansion. While strengthening our leading position in the Pearl River Delta region, we will also expand into the Yangtze River Delta, Chongqing-Chengdu region, Central China region as well as Pan-Bohai Rim region actively in a bid to become a leading property developer in China with nationwide coverage.