BEIJING, Sept. 11 /Xinhua-PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan") (NYSE: XIN), a fast-growing residential real estate developer with a focus on strategically selected Tier II cities in China, today announced plans to launch pre-sales activities for two of its projects, Kunshan International City Garden and Chengdu Xinyuan Splendid I, in late September, 2008.
Kunshan International City Garden has a total gross floor area ("GFA") of 509,851 square meters, consisting of 5,103 units, of which, 528 units will be available during pre-sales beginning around September 20th. Chengdu Xinyuan Splendid I has a total GFA of 230,893 square meters, consisting of 4,069 units, of which, 995 units will be available during pre-sales which will also officially begin around September 20th.
"We are pleased to commence pre-sales for our first projects in Kunshan and Chengdu," said Mr. Yong Zhang, Xinyuan’s chairman and chief executive officer. "Both of these projects are ideally located in rapidly growing Tier II cities that are benefiting from increasing urbanization, high economic growth and growing disposable income among middle class consumers. We are excited with the considerable interest shown thus far and are confident that these two high quality, affordable developments will receive a strong uptake during the last four months of 2008 and into next year."
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. ("Xinyuan") (NYSE: XIN) is a fast-growing developer of large scale, high quality residential real estate projects aimed at providing middle-income consumers with a comfortable and convenient community lifestyle. Xinyuan focuses on China’s Tier II cities, characterized as larger, more developed urban areas with above average GDP and population growth rates. Xinyuan has expanded its network to cover a total population of over 34.5 million people in six strategically selected Tier II cities, comprising Hefei, Jinan, Kunshan, Suzhou, Zhengzhou and Chengdu. Xinyuan is the first real estate developer from China to be listed on the New York Stock Exchange. For more information, please visit http://www.xyre.com .
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 risks related to: the risk that we may not be able to commence our pre-sales activities on time or at all; the risk that we may be unable to complete our property developments on time or at all; the risk that our results of operations may fluctuate from period to period; the risk that the PRC government may adopt further measures to curtail the growth in the property sector; the risk that we face intense competition from other real estate developers; the risk that PRC economic, political and social conditions, government policies as well as natural disaster can affect our business 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, 2007. All information provided in this press release is as of September 10, 2008. 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.
