【For immediate release】
Kaisa Strengthened its Presence in Chongqing-Chengdu Region through further acquisition of a Land Parcel in Nanchong of Sichuan by Auction * * * Consideration of RMB819 Million with planned GFA of over 474,000 sq. m.
(28 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, is pleased to announce today that the Company was a successful bidder in a land auction for a land parcel located in Nanchong city in southern Sichuan Province. The consideration is approximately RMB819 million.
The site is located in Wang Tian Ba Area of Shunqing District, Nanchong City in Sichuan and covers an area of 188,246 sq. m. The planned GFA of the site is 474,263 sq. m. and the average land cost per GFA is approximately RMB1,727 per sq. m.. Approximately 447,063 sq. m. and 27,200 sq.m. of the total planned GFA will be for residential and commercial use, respectively. Capitalizing on the unique natural scenic resources in the planned Wang Tian Ba Ecological Zone, the site will be developed into a high-end residential project.
Commenting on this land acquisition, Mr. Kwok Ying Shing, Chairman and Executive Director of Kaisa, said, “This is the second land parcel the Group acquired in Nanchong. The land acquisition has not only made the city Kaisa’s second most important anchorage in Chongqing-Chengdu region, but also enhanced our strategic presence in the region. Over the last week, we have acquired a total of 10 land parcels through land auctions. The recent purchases demonstrate the Group’s financial strength, proactive business strategy and determination in expanding into selected second-tier cities. We shall continue to strengthen our presence in Chongqing-Chengdu region, Yangtze River Delta, Central China region and Pan-Bohai Rim region while maintaining our leading position in Pearl River Delta, in an effort to become a leading property developer in China with nationwide coverage.”
- End - Kaisa Strengthened its Presence in Chongqing-Chengdu Region through further acquisition of a Land Parcel in Nanchong of Sichuan by Auction Consideration of RMB819 Million with planned GFA of over 474,000 sq. m. 28 November 2010/ Page 2 of 2
About Kaisa Established in 1999, Kaisa is a large-scale fully integrated property developer. The Group was listed on the Main Board of the Stock Exchange of Hong Kong Limited in December 2009. Over the years, the Group has been focusing on urban property development. The scope of its business is extensive, covering residential properties, serviced apartments, office towers and integrated site planning and development. Founded in Shenzhen, the Group has expanded to cover some of the most economically-vibrant cities and regions, including the Pearl River Delta region, the Yangtze River Delta region, the Chengdu-Chongqing region and the Pan-Bohai Bay Rim region. The Group currently owns 45 projects spanning 14 cities.
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