20 March 2014, Hong Kong—Fantasia Holdings Group Co., Limited (“Fantasia” or the “Company”, stock code:1777) is pleased to announce that, following this February’s acquisition of three commercial land parcels in Nanjing, one of its wholly-owned subsidiaries has recently entered into a share transfer agreement and related agreements with Nanjing Zhongchu Properties Development Co., Ltd. Pursuant to the agreements, Fantasia has successfully secured the land use right to another land parcel in downtown Nanjing for a consideration of RMB1,349 million, implying landpriceperfloorarea of approximately RMB3,889 per square.meter. The land parcel, used for commercial and office purposes, covers an area of approximately 56,189 square meters and total GFA of approximately 346,882 square meters. The acquisition will further enhance the Company’s land bank in first-tier cities.

Located in the north of the city, at the core position of central gate business & commerce planning, the project is also the first project in the central gate business district planning and is expected to be built into “an urban functional large-scale complex”. The project enjoys superior geographical location and convenient transportation, adjoining Nanjing Railway Station and West Station Goods Yard to the east, linking Yangtze River Cargo Berth and Yangtze River One Two Bridge to the north and close to Central Gate Third Business District to the south. In addition, close to Subway Line 3 under construction in Central North Road, the project is able to explore the potential of developing potential consumers. 

The acquisition of land parcel in Nanjing will further increase the Company’s land bank and market shares in China’s first-tier cities. Previously, the Company successfully developed a commercial property project Yuhuatai, which was sold out in 2013 and held the first spot in the sales league table of Nanjing commercial property market for 2013. This acquired land parcel is expected to be launched in the market within the year. As the Company has accumulated multiple years of experiencein the commercial property market, built up a customer base and mastered online and offline marketing savvy, this project is expected to achieve excellent sales and drive the Company’s sales growth this year. 

So far this year, the Company has acquired a total of 7 land parcels in the two first-tier cities of Shenzhen and Nanjing, which deliveredan aggregate GFA of more than 2 million square meters.

Mr. PAN Jun, Chairman and CEO of Fantasia, said “China’s economy has been growing at a fast pace for many years, and the urbanization drive is far from finish. The demand for high-end commercial property is still enormous in first and second-tier cities and commercial property projects are expected to be keenly sought-after. The acquisition of this land parcel in the central area of Nanjing will satisfy market demand and effectively boost the Company’s influence in the Yangtze River Delta region.”