Yuexiu Property Acquires Zhongshan Bo-ai Land

Hong Kong, 16 September 2010 Yuexiu Property Company Limited ( Yuexiu Property or the Company ) (HKEx Stock Code: 00123) announced today that the Company acquired, through its 95% owned subsidiary, a parcel of land at Bo-ai Road in Zhongshan, Guangdong Province (the Zhongshan Bo-ai Land ) at an open land auction.

The Zhongshan Bo-ai Land, located on the south side of Bo-ai Road, the Eastern District of Zhongshan City, has a site area of approximately 138,000 square meters and a permissible gross floor area of approximately 366,000 square meters. The consideration amounts to RMB416 million. The acquisition price per square meter amounts to RMB1,138. The land is approved for residential and commercial use. Of the total permissible gross floor area, 65% is for residential development and 35% for commercial development. Together with the Zhongshan Bo-ai Land, the Company owns a total gross floor area of approximately 1,048,000 square meters in Zhongshan.

Zhongshan City, with a permanent population of about 2.5 million and with its GDP ranking fifth in Guangdong Province, is one of the key cities in the Pearl River Delta.

Mr. Lu Zhifeng, Chairman of Yuexiu Property, said, The Zhongshan Bo-ai Land is the third plot acquired by the Company in Zhongshan. Not only can it strengthen the strategy implementation of the Company s property business, but it can also enhance the resource utilization rate of the project company that has been established for Zhongshan.

Together with the Zhongshan Bo-ai Land acquired this time, Yuexiu Property has a gross floor area of approximately 1,048,000 square meters in Zhongshan City and a total land bank of 9.17 million square meters to date.