Xinyuan Real Estate Co., Ltd. Announces Land Acquisitions in Zhengzhou
BEIJING, Jan. 7, 2015 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or the "Company") (NYSE: XIN), a residential real estate developer with a primary focus on high growth cities in China, today announced that it has recently acquired four land parcels in Zhengzhou, Henan province, through public auction.
Land parcels No.149 and No. 150 are adjacent and located next to the Company's Zhengzhou Thriving Family project. Together, they offer a total site area of approximately 123,906 square meters. Xinyuan paid a total of RMB779.7 million (approximately US$125.2 million) for the land use rights. The average estimated floor price of this project is approximately RMB2,098 per square meter. The Company plans to develop high-rise residential apartments on this land.
The other two land parcels - No. 151 and 152 - are also adjacent and located in the South of Zhengzhou, it's a new residential area with excellent living environment. Together, they offer a total site area of approximately 50,655 square meters. Xinyuan paid a total of RMB326.2 million (approximately US$52.4 million) for the land use rights. The average estimated floor price of this project is approximately RMB1,949 per square meter. The Company plans to develop high-rise residential apartments.
Mr. Yong Zhang, Chairman of Xinyuan, commented, "We are excited to further expand our development portfolio and land bank in Zhengzhou, a mature market with very stable pricing and a healthy supply demand balance. These four land parcels are located in a promising region, next to the South Fourth Ring Road and a new subway line is under planning nearby the location of our new land parcels."
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. ("Xinyuan") (NYSE: XIN) is a developer of large scale, high quality residential real estate projects aimed at providing middle-income consumers with a comfortable and convenient community lifestyle. In China, Xinyuan primarily focuses its development projects in high growth cities, including Zhengzhou, Jinan, Suzhou, Kunshan, Xuzhou, Chengdu, Shanghai, Beijing, Tianjin, Changsha, Sanya, Xi'an and Hefei. The Company's U.S. development arm, XIN Development Group International, Inc., is a pioneer amongst Chinese real estate residential developers, entering the US market in 2012. Xinyuan is the first real estate developer from China to be listed on the New York Stock Exchange. For more information, please visit http://www.xyre.com.
Forward Looking Statements
Certain statements in this press release constitute "forward-looking statements". These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements includes statements about estimated financial performance, sales performance and activity, among others and can generally be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical statements are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including, but not limited to, our ability to continue to implement our business model successfully; our ability to secure adequate financing for our project development; our ability to successfully sell or complete our property projects under construction and planning; our ability to enter into new geographic markets and expand our operations; the marketing and sales ability of our third-party sales agents; the performance of our third-party contractors; the impact of laws, regulations and policies relating to real estate developers and the real estate industry in the countries in which we operate; our ability to obtain permits and licenses to carry on our business in compliance with applicable laws and regulations; competition from other real estate developers; the growth of the real estate industry in the markets in which we operate; fluctuations in general economic and business conditions in the markets in which we operate; and other risks outlined in our public filings with the Securities and Exchange Commission, including our annual report on Form 20-F for the year ended December 31, 2013. Except as required by law, we undertake no obligation to update or review publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statement is made.
For more information, please contact:
Xinyuan Real Estate Co., Ltd.
Ms. Jing Ye
Investor Relations Director
Tel: +86 (10) 8588-9376
Mr. William Zima
In U.S.: +1 646-308-1472
In China: +86 (10) 6583-7511
SOURCE Xinyuan Real Estate Co., Ltd.