Total Site Area of 144,862 sq.m
The Second Land Acquisition in One Week
HONG KONG, Dec.18 /Xinhua-PRNewswire/ -- Greentown China Holdings
Limited ("Greentown") (or "the Company", together with its subsidiaries,
collectively as "the Group"; stock code: 3900) is pleased to announce its
acquisition of a plot of residential site in Panlong Lake area in Xinchang
City of Zhejiang Province in 15 December, 2006. This is the second
successful land acquisition of the Group in one week.
The plot of land acquired is a large-scales residential site with total
site area of approximately 144,862 sq.m. and permitted GFA of approximately
144,862 sq.m. Total consideration amounted to approximately RMB
52,000,000. The site, located at the north of Chengguan Town, is adjacent
to Shang San Expressway with convenient transportation and beautiful natural
view. The Group plans to commence construction in the second half of 2007.
Mr. Shou Bainian, Executive Vice-Chairman & Chief Executive Officer of
Greentown, said, "We are pleased with the successful acquisition of two
plots of land in only one week. Xinchang City is one of the top 100
strongest cities in China with huge economic strength and development
opportunities. We are confident that our success in acquiring this plot of
land can further consolidate our competitive strengthens in Zhejiang
Province. Looking ahead, we will continue to look at quality sites to match
our future development plan."
About Greentown China Holdings Limited
Greentown China Holdings Limited is one of the leading property
developers in China. The Group primarily develops quality residential
properties targeting middle to high income residents in China. While the
Group has historically focused its property development operations in
Hangzhou and other cities within Zhejiang Province, it has over the years
become a national player in the residential property markets with
significant operations in Shanghai, Beijing and other strategically selected
cities across the country, including Hefei in Anhui Province, Changsha in
Hunan Province and Urumqi in Xinjing Uygur Autonomous Region. In 2004 and
2005, our "Greentown" brand was ranked one of the 10 most valuable property
brands in China by Top 10 China Real Estate Research Group.
For more information, please contact:
iPR Ogilvy LTD.
Kylie Yeung / Charis Yau / Harriet Lau / Natalie Tam
Tel: +852-9489-6845 / 9273-0293 / 9199-2965 / 9306-7346
Fax: +852-3170-6606
Email: kylie.yeung@iprogilvy.com / charis.yau@iprogilvy.com/
harriet.lau@iprogilvy.com / natalie.tam@iprogilvy.com
