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Xinyuan Real Estate Co., Ltd. Announces New Land Acquisitions in Zhengzhou

BEIJING, April 22, 2016/PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan") XIN, -0.76% an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, today announced that it has recently completed the acquisitions and secured the land use rights for five land parcels in Zhengzhou, the capital city of Henan province, through two public auctions that took place in January and February 2016.Land parcels No. 118 and No. 119, known as Zhengzhou Fancy City II, are adjacent and located next to the Company's Zhengzhou Fancy City project (Zhengzhou Jiaotong College project). Located within the 4th Ring Road, the area surrounding this project is located conveniently near urban transportation, as well as commercial and community services. Together, the land parcels offer a total site area of approximately 57,661 square meters, with a total consideration of RMB420.3 million (approximately US$64.8 million) for the acquisition. The Company plans to develop residential apartments and commercial buildings on this land with an estimated gross floor area of approximately 203,000 square meters.

Land parcels No. 7, No. 8 and No. 9 are adjacently located within the south 3rd Ring Road and are conveniently located near the Zhengzhou line 2 subway station. The newly acquired land parcels are part of the larger Shilipu development project, which has a planned gross floor area of approximately 3,300,000 square meters and will be equipped with community facilities as well as commercial and educational services. Together, the acquired three land parcels offer a total site area of approximately 89,088 square meters, with a total consideration of RMB679.2 million (approximately US$104.7 million) for the acquisition. The Company plans to develop residential...


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