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Xinyuan Real Estate Named One of China's Top Twenty Real Estate Companies

2008-01-16 15:31 982


ZHENGZHOU, China, Jan. 16 /Xinhua-PRNewswire/ -- Xinyuan Real Estate Co., Ltd. (“Xinyuan”) (NYSE: XIN), a fast-growing residential real estate developer that focuses on Tier II cities in China, today announced it has been recognized as one of China’s top twenty real estate companies by China Real Estate Business, a prominent Chinese real estate publication. The award was given to Chinese real estate companies who have delivered exceptional performance during the last twenty years. In addition, Mr. Yong Zhang, Xinyuan’s chairman and chief executive officer, was nominated as a Top 20 Elite individual by the committee.

Mr. Zhang commented, “We are thrilled to be recognized as one of the top twenty real estate companies in China. Our unique business model and track record of success have established Xinyuan as one of the leading brand names in China’s Tier II real estate community. With around three million square meters of projects under construction, under planning or completed, and additional projects in the pipeline, we are confident our scalable business will provide more and more Chinese people with comfortable and convenient community lives.”

The award and nomination were presented to Xinyuan and Mr. Zhang at the annual meeting organized by China Real Estate Business and Sina.com on January 12, 2008. As the first Chinese real estate developer to list on the New York Stock Exchange, Xinyuan’s asset-light business model and focus on rapid asset turnover helped it gain recognition as one of China’s twenty best real estate companies.

About Xinyuan Real Estate Co., Ltd.

Xinyuan Real Estate Co., Ltd. (“Xinyuan”) (NYSE: XIN) is a fast-growing developer of large scale, quality residential real estate projects aimed at providing middle-income consumers in China’s Tier II cities with a comfortable and convenient community life. Ranked #1 among all property developers in Zhengzhou in terms of contracted sales of residential units for the years 2004, 2005 and 2006, Xinyuan has expanded its network to cover a total population of 34 million people in 5 strategically selected Tier II cities, including Chengdu, Hefei, Jinan, Suzhou and Zhengzhou. Xinyuan has completed 13 projects with total GFA of 0.9 million square meters within the past 10 years and as of September 30, 2007, Xinyuan had 7 projects under construction with a total GFA of 0.8 million square meters and 7 additional projects under planning with total GFA of 1.3 million square meters. With a focus on high asset turnover, efficient working capital management and strict cost control, Xinyuan is dedicated to bringing high quality, affordable homes to China’s middle income buyers. For more information, please visit http://www.xyre.com .

Safe Harbor Statement

This announcement may contain 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 Xinyuan’s beliefs, forecasts, estimates and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Information regarding these risks and uncertainties is included in our public filings with the Securities and Exchange Commission. All information provided in this press release is as of January 16, 2008, and Xinyuan undertakes no duty to update such information, except as required under the applicable law.

For investor and media inquiries, please contact:

In China:

Mr. Alex Gong

Director of Investor Relations

Tel: +86-371-6565-1611

Email: yuan.gong@xyre.com

Mr. Derek Mitchell

Ogilvy Public Relations Worldwide (Beijing)

Tel: +86-10-8520-6284

Email: derek.mitchell@ogilvy.com

In the United States:

Mr. Jeremy Bridgman

Ogilvy Public Relations Worldwide (New York)

Tel: +1-212-880-5363

Email: jeremy.bridgman@ogilvypr.com

Source: Xinyuan Real Estate Co., Ltd.
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