Xinyuan Real Estate Co., Ltd. Announces New Land Acquisition
BEIJING, August 5, 2014 /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 a land parcel in Xi’an City, Shaanxi Province, through the Company’s 51% owned subsidiary Shaanxi Zhongmao Economic Development Co., Ltd. (“Shaanxi Zhongmao”).
This land parcel is located in Daxing New District in the northwest area of Xi’an City, close to the Second Ring Road. The land parcel is comprised of two pieces with the larger area intended for residential development and the smaller area for commercial development.
Mr. Yong Zhang, Chairman of Xinyuan, commented, “We are excited to expand further into the fast growing central China region by entering the Xi’an market, where supply demand balance remains healthy in a generally slow macro environment. This newly acquired land parcel is located in a developing outer district of the city. The local government has planned to transform this district to a new international trade base and has supported renovation of the district to a more modernization standard. This project will enrich our development portfolio and increases our presence in China’s real estate market.”
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 high growth cities, Zhengzhou, Ji’nan, Suzhou, Kunshan, Xuzhou, Chengdu, Shanghai, Beijing, Changsha, Sanya 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 US 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://www.xyre.com.
For more information, please contact:
Ms. Helen Zhang
Tel: +86 (10) 8588-9398
In U.S.: +1-646-308-1472
In China: +86 (10) 6583-7511