BEIJING, Dec. 3, 2013 /PRNewswire/ -- Xinyuan Real
Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), a
residential real estate developer with a focus on high growth
cities in China, today announced
that it has recently acquired four land parcels via auction.
The first and second land parcels are adjacent to one another
and together offer a total site area of approximately 140,155
square meters. The two land parcels are located in Jinan, Shandong
Province, next to the city's high-speed railway station.
Xinyuan paid a total of RMB1.2
billion (approximately US$197
million) for the land use rights. The Company plans to
develop high rise residential apartments on these land parcels for
a total estimated gross floor area of approximately 420,465 square
meters and the average floor price is approximately RMB2,856 per square meter.
The third and fourth land parcels are adjacent to one another in
Xingyang, Henan Province, a city
located 15 kilometers to the west of Zhengzhou, capital city of Henan Province. They are also situated next to
the 47,710 square meters of land parcel that the Company acquired
in September of this year. The Company expects to integrate the two
new land parcels and develop them together as one project for a
total site area of approximately 48,359 square meters. Xinyuan paid
a total of RMB125 million
(approximately US$21 million) for the
land use rights for the two parcels. The Company intends to
primarily develop residential apartments for a total estimated
gross floor area of approximately 120,898 square meters. The
average floor price is approximately RMB1,036 per square meter.
Mr. Yong Zhang, Chairman of
Xinyuan, commented, "We are pleased to have increased our project
under planning inventory in Jinan
and the greater Zhengzhou area,
two important markets for Xinyuan, in which we have strong
development project experience. We have been quite active with our
land development projects recently. With today's announcement, we
have acquired nine new land parcels, or five projects since
September. Most of these projects are expected to commence
pre-sales in 2014, which we believe will be a strong year for
Xinyuan. We continue to evaluate other land acquisitions with a
focus on strong investment returns."
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. ("Xinyuan") (NYSE: XIN) is a
developer of large scale, high quality residential real estate
projects aimed at providing middle-income consumers with a
comfortable and convenient community lifestyle. In China, Xinyuan primarily focuses its
development projects in Tier II cities, Zhengzhou, Ji'nan, Suzhou, Kunshan, Xuzhou,
Chengdu and Hefei. The Company's U.S. development arm, XIN
Development Group International, Inc., is a pioneer amongst Chinese
real estate residential developers, entering the U.S. market in
2012. Xinyuan is the first real estate developer from China to be listed on the New York Stock
Exchange. For more information, please visit
http://en.xyre.com/ir.html.
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,
but not limited to, the risk that: our financing costs are subject
to changes in interest rates; our results of operations may
fluctuate from period to period; the recognition of our real estate
revenue and costs relies on our estimation of total project sales
value and costs; we may be unable to acquire desired development
sales at commercially reasonable costs; increases in the price of
raw materials may increase our cost of sales and reduce our
earnings; we are heavily dependent on the performance of the
residential property market in China, which is at a relatively early
development stage; PRC economic, political and social conditions as
well as government policies can affect our business; the market
price of our ADSs may be volatile, 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, 2012. 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.
For more information, please contact:
Xinyuan Real Estate Co., Ltd.
Ms. Helen Zhang
Interim CFO
Tel: +86 (10) 8588-9255
Email: irmanager@xyre.com
ICR, LLC
William Zima
In U.S.: +1 646-308-1472
In China: +86 (10) 6583-7511
Email: william.zima@icrinc.com
SOURCE Xinyuan Real Estate Co., Ltd.