Recently, Shimao Property Holdings Limited successfully acquired a residential land plot located at Mantang Street in the Qipanshan Tourism Development Zone in Shenyang City for approximately RMB790 million. The land plot occupies a site area of approximately 460,000sq.m. and is planned to be built into GFA aggregating approximately 550,000 sq.m.

The Qipanshan Tourism Development Zone is located in the northeastern part of Shenyang City, east to Fushun, west to the new hi-tech agricultural zone, south to Hunhe and north to Tieling. The zone is about 20km away from the city center of Shenyang and enjoys a convenient transportation network infrastructure, with three rings expressways, Shenyang-Harbin Expressway in close proximity and the Shenyang-Jilin route of China Railway passing through it. Within a 100km-diameter around Shenyang City, a population of around 24 million covering Tieling City, Fushun City, Laoyang City, Anshan City and Benxi City in the middle of Liaoning Province.

Qipanshan project is the second large-scale integrated project in Shenyang city the Group invests in, the key area of northern China, after the Wulihe project. It also helps consolidate Shimao Property’s presence and enhance the Group’s capability to achieve sustainable development there.