Xinyuan Real Estate Selected as One of China's Top 10 Overseas-Listed Real Estate Developers by China Real Estate Top 10 Committ
June 16 2008 - 10:04AM
PR Newswire (US)
BEIJING, June 16 /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 that it was recently selected as one of
China's Top 10 overseas-listed real estate developers by the China
Real Estate Top 10 Committee. "Our selection as one of China's Top
10 overseas-listed real estate developers is a testament to the
success of our company, our proven business model and our standard
of corporate governance," said Mr. Yong Zhang, Xinyuan's chairman
and chief executive officer. "Xinyuan was the first Chinese real
estate developer to list on the New York Stock Exchange, and our
focus on rapid asset turnover, efficient capital management and
strict cost control have allowed us to quickly expand into new Tier
II cities within China. It is a special honor to be selected as a
leading overseas-listed Chinese developer by the China Real Estate
Top 10 Committee." In selecting its Top 10 overseas-listed Chinese
real estate developers, the China Real Estate Top 10 Committee
compared Chinese real estate developers listed in Singapore, Europe
and the United States and utilized a rigorous evaluation system
based on operational scale, growth, profitability, and development
potential. In its report, the Committee praised Xinyuan for its
unique business model and focus on Tier II cities within China, its
partnerships with world-renowned institutional shareholders Equity
International and Blue Ridge China and for its successful listing
on the New York Stock Exchange. The China Real Estate Top 10
Committee is a real estate market research task force jointly
organized by the Enterprise Research Institute of the Development
Research Center of the State Council of PRC, the Institute of Real
Estate Studies of Tsinghua University and the China Index Academy.
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 with a comfortable and convenient community
life. Xinyuan focuses on China's Tier II cities, characterized as
larger, more developed urban areas with above average GDP and
population growth rates. 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 over 34.5 million people in 6
strategically selected Tier II cities, comprising Hefei, Jinan,
Kunshan, Suzhou, Zhengzhou and Chengdu. Xinyuan has completed 14
projects with a total GFA of over 1.0 million square meters within
the past 10 years and as of March 31, 2008, Xinyuan had 8 projects
under construction with a total GFA of 1.2 million square meters
and 5 additional projects under planning with total GFA of 1.2
million square meters. 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 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, including our
registration statement on Form F-1, as amended and our annual
report on Form 20-F. All information provided in this press release
is as of June 16, 2008, and Xinyuan undertakes no duty to update
such information, except as required under the applicable law. For
more information, please contact: In China: Ms. Lisa Wang Director
of Investor Relations General Manager of Strategy, Investment and
Financing Department Tel: +86-10-6598-1626 Email: Mr. Derek
Mitchell Ogilvy Public Relations Worldwide (Beijing) Tel:
+86-10-8520-6284 Email: In the United States: Mr. Jeremy Bridgman
Ogilvy Public Relations Worldwide (New York) Tel: +1-212-880-5363
Email: DATASOURCE: Xinyuan Real Estate Co., Ltd. CONTACT: In China:
Ms. Lisa Wang, Director of Investor Relations, GM of Strategy,
Investment and Finance Department at +86-10-6598-1626 or and Mr.
Derek Mitchell, Ogilvy Public Relations Worldwide at
+86-10-8520-6284 or ; or In the US: Mr. Jeremy Bridgman, Ogilvy
Public Relations Worldwide for Xinyuan at +1-212-880-5363 or Web
site: http://www.xyre.com/
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