Recently, Shimao Property Holdings Limited has signed agreements with two enterprises in Chengdu and Shanghai to acquire development rights of two residential land parcels respectively located in Longquanyi District, Chengdu and Fengxian District, Shanghai with a consideration of approximately 730 million and 206 million Yuan.

The Longquanyi site is located in Tian e Hu Community of Longquanyi District, Chengdu with a total planned area of 4.68 sq.km and a population of 126,000. The site is equipped with a sports park (including a PGA-standard 18-hole golf course), a culture park, a commercial center as well as a high-end residential area. High and elementary schools, colleges, hospitals as well as metro transport constitute major components of the comprehensive amenities offering in the community. Close to the traditional tourist hot spot—the city garden “San Sheng Xiang”, the site occupies an area of approximately 200,000 sq.m., will be developed into GFA aggregating approximately 500,000 sq.m. The site is earmarked to be developed into high-end integrated residences.

Shanghai Fengxian project is located in Xing Huo Development Zone, Fengxian District and is adjacent to Shanghai Shimao Emme County, another project developed by the Group. This project occupies a site area of about 230,000 sq.m. and can be developed into GFA aggregating 230,000 sq.m.. This site is planned to be developed into low-density high-end residences. Currently low-density residences in Shanghai Shimao Emme County are selling at approximately RMB15, 000 per sq.m.

The numerous successful land acquisitions Shimao Property accomplished recently, highlights the Group’s strong confidence in continuing the pace and increasing the number of projects. As an integrated high-end real estate developer, Shimao will make full use of the experience in large-scale projects development and operation, continuing to practice the responsibility of “City Operator” and accomplishing urban dreams!