Fantasia Enters into Nanjing Property Market

Further Enhances Strategic Position in Yangtze River Delta region


December 12, 2010, Hong Kong - Fantasia Holdings Group., Limited (“Fantasia” or “the Company”, HKSE stock code 1777) announced that the Company was successful in bidding for a plot of commercial land, identified as 2010G48, in Nanjing for a total consideration of RMB 280 million last Friday.  The total land area and gross floor area are approximately 55,419 square meters and 66,497 square meters respectively.  The cost of planned floor area is equal to approximately RMB 4,210 per square meter.  As of today, the Company’s total land bank reached 14.32 million square meters.


Being one of China’s renowned “four ancient capitals”, home to at least half a dozen Chinese dynasties, Nanjing is one of China’s most important cultural and educational centers, as well as an important transportation hub in Eastern China.  The newly acquired land is located in Banqiao new town of Yuhuatai district, which is one of the eight key satellite towns under the municipal development plan.  Situated on the scenic North-Eastern Shizha Lake, the plans for this plot of land focus on a large scale urban commercial complex.  The Company is keen to participate in the growth of this new area, which will promote ecological living by applying new technologies.  


Mr. Pan Jun, the Chairman and Chief Executive Officer of the Company commented: “We are thrilled that Fantasia has entered into Nanjing’s property market.  As one of the core cities in the Yangtze River Delta region, Nanjing is the economic and commercial center in Eastern China with a rich historical and cultural heritage.  Following our entries to Suzhou, Wuxi and Yixing, the land acquisition in Nanjing will deepen the Company’s presence in the Yangtze River Delta region, and help realize further synergies”.