Won the bid of land in Jiading, Shanghai with Cost of RMB680 Million

The Group won the bid for a 119,400 sq. m. piece of land for residential development in Jiading, Shanghai at RMB 680 million. The final saleable area is expected to reach 214,900 sq. m. at approximately RMB3,160 per sq. m. Near to Shanghai Poly Garden, the land is also in the key new development district, Jiading New City. The Group has endeavored to expand the scale of its projects and its market share in the district, with the aim of establishing a branded healthy and harmonious community. Currently, the Group owns over 8 million sq. m. of land under development and in reserve. In coming years, it will continue to look for prime land in major cities in China suitable for development and facilitating the growth of its property business.