Property

CIFI and Henderson China Strengthen Cooperation by Jointly Developing Residential Projects in Changsha

HONG KONG, Dec. 8, 2016 /PRNewswire/ -- CIFI Holdings (Group) Co. Ltd. ("CIFI" or the "Group", HKEX Code: 884), one of the top 20 real estate developers in China, is pleased to announce that the Group and Henderson China Properties Limited ("Henderson China") will jointly develop residential projects in Changsha, Hunan province, China. The Group will invest around RMB360 million in the projects, and will have 50% of the profit from them.

The projects are located in Xingang Town and Laodaohe Town, Kaifu District, Changsha with a total planned gross floor area of 830,354 sq.m. The average land cost paid by CIFI is approximately RMB868 per sq.m.

Mr. LIN Zhong, Chairman of CIFI, said, "CIFI is pleased to cooperate with Henderson China again. Henderson China is the Group's important and long-term strategic partner and we will further strengthen our strategic partnership with Henderson China. CIFI will continue to partner with leading blue-chip property developers so as to further enhance our brand awareness and profitability, and generate encouraging returns to shareholders and business partners."

About CIFI Holdings (Group) Co. Ltd.

Headquartered in Shanghai, CIFI is one of China's top 20 real estate developers. CIFI principally focuses on developing high quality properties which target the end-users in first- and second-tier cities in the country. CIFI develops various types of properties, including residential flats, office buildings and commercial complexes.

To learn more about the Company, please visit CIFI's website at: http://www.cifi.com.hk