[For immediate release]
Central China Real Estate Limited Acquires the Land Use Rights of Two Land Plots in Zhongmu County, Zhengzhou for RMB138 million
(06 November 2015 – Hong Kong) –– Central China Real Estate Limited (“CCRE” or the “Company”, together with its subsidiaries, the “Group”; SEHK stock code: 832), one of the leading Henan-based property developers, announces that on 15 October 2015, The Group, acquired the land use rights for two plots of land in Zhongmu of Zhengzhou city through an auction acquisition process for a total consideration of RMB138 million. The land parcel is located at East of Wenying Road, south of Jinshui Road in Zhongmu County, Zhengzhou City with an aggregate site area of approximately 80,149 sq.m.. CCRE estimates the total expected gross floor area (“GFA”) could be approximately 120,224 sq.m., with an average land cost per GFA of RMB1,150 per sq.m. This new land purchase will be for the development of Jianye Huayi Brothers Film Town, comprising of travel, commercial, residential, and car park. The company plans to commence construction in the second half of 2016 and estimate to complete the project by the first half of 2018.
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About CCRE Central China Real Estate Limited is one of the leading Henan-based property developers that focus on developing of high-quality residential properties. Known for its outstanding product quality, strong brand awareness and its experienced management team, the company was ranked 26th among the “Top 500 Chinese Property Developers in 2014”, according to “2014 Research Report on Top 500 Chinese Property Developers” co-published by China Real Estate Research Association, China Real Estate Association and China Real Estate Appraisal, and topped the list of “Top 10 Chinese Property Developers in Regional Operations” for the sixth year in a row and repeatedly ranked in top 5 operations performance among the listing property companies in China, being the only central China based property developer among the top 30 and the top real estate developer in Henan. CCRE ranked 471st among “China’s Top 500” in 2015 by Fortune Magazine, which was the only property enterprise in Henan Province to have made it to the list.
For further information, please contact: Mr. Vinh Mai Head of Investor Relations and Chief Investment Officer Central China Real Estate Limited Email:[email protected] iPR Ogilvy & Mather Tina Law / Gary Li / Rhonda Leung Tel: (852) 2136 6181 / 3170 6753 / 3920 7625 Fax: (852) 3170 6606 Email: [email protected]