BEIJING, Feb. 13, 2014 /PRNewswire/ -- Xinyuan Real
Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a
residential real estate developer with a focus on high growth
cities in China, today announced
that it has recently acquired two land parcels.
The first land parcel is located in Tianfu New District, a new
economic zone in Chengdu City, the
capital city of southwest China's
Sichuan province. The land parcel
offers a site area of approximately 75,038 square meters. Xinyuan
paid a total of RMB933.8 million
(approximately US$153.8 million) for
the land use rights. The Company plans to develop high rise
residential apartments on this land parcel for a total estimated
gross floor area of approximately 225,024 square meters with an
average estimated floor price of approximately RMB4,150 per square meter.
The Company acquired a second land parcel in Sanya City,
Hainan province, through the
acquisition of a local private-owned real estate company in Sanya.
This land parcel is located in Yazhou Bay of Sanya City.
Yazhou Bay is located in the west of
Sanya, one of the five famous bays in Sanya and the last one under
development. An express train station is under development in the
Yazhou Bay area by the Sanya city government, with plans to
construct a new airport in the area. The land parcel offers a site
area of approximately 78,831 square meters. Xinyuan paid a total of
RMB356.9 million (approximately
US$58.9 million) for the land use
rights. The Company plans to build SOHO apartments for sale on this
land parcel for a total estimated gross floor area of approximately
118,245 square meters.
Mr. Yong Zhang, Chairman of
Xinyuan, commented, "We are pleased to have increased our project
under planning inventory in Chengdu, a thriving market where we have
developed two projects in the past years. We are also excited to
enter Hainan market, a premier
vacation destination in China. In
recent years, purchasing holiday properties has become increasingly
popular. Sanya has been the most popular domestic tourist
destination for four consecutive years. With today's announcement,
we have acquired eleven new land parcels (for a total of seven
development projects) in the past six months. We are encouraged
with the progress of all of our active development projects and are
confident that these projects will lead to strong pre-sale revenue
in 2014."
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 Tier II cities, Zhengzhou, Ji'nan, Suzhou, Kunshan, Xuzhou,
Chengdu 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://en.xyre.com/ir.html.
Safe Harbor Statement
This press release contains 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 can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
Statements that are not historical facts, including statements
concerning our beliefs, forecasts, estimates and expectations, 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, the risk that: our financing costs are subject
to changes in interest rates; our results of operations may
fluctuate from period to period; the recognition of our real estate
revenue and costs relies on our estimation of total project sales
value and costs; we may be unable to acquire desired development
sales at commercially reasonable costs; increases in the price of
raw materials may increase our cost of sales and reduce our
earnings; we are heavily dependent on the performance of the
residential property market in China, which is at a relatively early
development stage; PRC economic, political and social conditions as
well as government policies can affect our business; the market
price of our ADSs may be volatile, 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, 2012. Except as required
by law, we undertake no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events.
For more information, please contact:
Xinyuan Real Estate Co., Ltd.
Ms. Helen Zhang
Interim CFO
Tel: +86 (10) 8588-9398
Email: irmanager@xyre.com
ICR, LLC
William Zima
In U.S.: +1 646-308-1472
In China: +86 (10) 6583-7511
Email: william.zima@icrinc.com
SOURCE Xinyuan Real Estate Co., Ltd.