10 February 2014, Hong Kong-Fantasia Holdings Group Co., Limited (“Fantasia” or the “Company”, stock code: 1777) is pleased to announce that, a few days ago, the Company had successfully acquired the land use rights of three listed land parcels in Gaochun District, Nanjing, at a bottom price of RMB410,900,000. The three land parcels are for commercial and residential purposes, covering an area of approximately 160,000 square meters and gross floor area of approximately 322,000 square meters. As Nanjing has previously been listed as one of the new Tier-1 cities in China, the land acquisitions indicate the Company’s intention to expand its land bank in Tier-1 cities.
It’s learned that Gaochun District, Nanjing is to be constructed as ‘‘A Sub-Center City in Metropolitan Area’’. The acquired land parcels are located in the economic development zone in Gaochun District, construction of which will be greatly supported by the local government. The land parcels enjoy significant advantages in terms of transportation, as they are located to the south of Shuanggaolu, and the area, open into Nanjing, will be the only area which must be passed upon the connection of Shuanggaolu and Ninggao Expressway. In addition, Gaochun development zone is an industrial cluster area with a large number of potential consumer groups.
By the end of 2013, CBNweekly, a domestic financial media, initiated 2013 City Grading, which selected 15 new Tier-1 cities according to composite commercial index, including Nanjing, Chengdu and Wuxi. The assessment revealed Nanjing’s rapid progress in comprehensive influence, industrial structure, science, education and culture, innovation capability, etc, particularly its unrivalled development in emerging industries and service industries in China.
PAN Jun, Chairman and CEO of Fantasia said, ‘‘There remains a shortage in Tier-1 cities this year. Given the significant demand, the property prices in Tier-1 cities are estimated to continue to rise. The land acquisitions in Nanjing will expand the land bank of the Company in Tier-1 cities and enhance our influence in the Yangtze River Delta. The projects are also estimated to launch for sale in the year, which will improve our performance for the year.’’
The Company has successfully developed the commercial project of “Huashengtang”and rolled out exquisite projects such as Suzhou Lago Paradise (蘇州太湖天城), Suzhou Fantasia Special Town (蘇州別樣城), Wuxi Love Forever (無錫花郡), Wuxi Hailrun Complex (無錫喜年中心) and Ningo Love Forever (寧波花郡) in Yangtze River Delta. The projects so acquired in Nanjing are estimated to focus on small-to-medium unit sizes favored by the market, and will also leverage the rich experience of development and well established sales channel of the Company to expedite project development and sales.
According to statistics, the Company had consecutively acquired land parcels in Huizhou, Wuhan, Shenzhen, Nanjing and other cities in the past two months, resulting in a growth in land bank by a gross floor area of over 3,000,000 square meters. As of today, the Company has set foot in 16 key cities such as Beijing, Shanghai, Shenzhen, Chengdu, Nanjing and Wuxi. It has sufficient land bank in Tier-1 and Tier-2 cities. In Shenzhen alone, it has more than 10 projects with a total gross floor area of approximately 2,500,000 square meters. This will secure the leap forward development of the real estate business in 2014.