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 that the company's Henan property management subsidiary has been granted the Top Tier Property Management Qualification Certificate by China's Ministry of Construction.
"This qualification is a reflection of Xinyuan's experience and expertise in property management," said Mr. Yong Zhang, Xinyuan's chairman and chief executive officer. "As the leading property management services provider in Henan province, Xinyuan's recognition as a top-tier property management company will help us establish Xinyuan's brand in new markets within China as we continue in our efforts to bring high quality, affordable homes to China's Tier II middle income buyers."
Each year, experts from China's Ministry of Construction present the Top Tier Property Management Qualification Certificate to companies that excel in property management areas such as development scale, personnel structure, policy execution, operational efficiency, and management results. Xinyuan's property management company has obtained all property management rights to the projects developed by Xinyuan, including the rights to the recently developed Jinan International City Garden and Chengdu Xinyuan Splendid.
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. 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
