Property

Jiayuan International Acquires Prime Site in Macau for HK$3.5 Billion

An effort to increase quality land bank through diverse channels and thus to reinforce strong brand in Guangdong-Hong Kong-Macau Bay Area

HONG KONG, Sept. 6, 2017 /PRNewswire/ -- Jiayuan International Group Limited ("Jiayuan International" or the "Company", which together with its subsidiaries, is referred to as the "Group"; SEHK stock code: 2768), one of China's established property developers of both large-scale residential and integrated commercial complex projects, is pleased to announce that it has signed an agreement to acquire two plots of land in Avenida Dr. Sun Yat-Sen, Taipa, Macau for HK$3.5 billion and will exchange for some adjoining leasehold lands which have a total site area of approximately 3,826 square meters designated for urban land use ("the replacement lands") from the Government of Macau.

An application for the exchange of lands is being processed and is subject to the government's approval. It is expected that the exchange of land will take place within 4 months after the completion of Jiayuan International's acquisition of the lands on 30 November 2017. When the approval is granted, Jiayuan International will own the land use rights over the leasehold lands in Avenida Dr. Sun Yat-Sen designated for comprehensive development.

Avenida Dr. Sun Yat-Sen located at Taipa District of Macau, It is situated at the hub spanning across three sea-crossing bridges, connecting the Macau Peninsula, Zhuhai and Hengqin. The Macau Land is highly accessible by a 3-minute drive from the Macau Taipa Ferry Terminal and a 5-minute drive from the Macau International Airport as well as Cotai Strip. Taipa District is surrounded by top-tier hotels, shopping arcades and leisure facilities, benefiting the geographical advantages. The Group believe that the district is well equipped with neighbouring infrastructure, public and social amenities as well as renowned school network, the Macau Land is also facing Taipa Grande Nature Park with a good living environment. Taking into account the Guangzhou-Zhuhai Intercity Railway under construction which will be extended and connected to the Macau Light Rail Transit upon construction completion and the target operation of Zhuhai-Hong Kong-Macau bridge in 2018, the Group believes that there exists a great potential for the development of the Macau Land.

Previously, the seller of the two plots of agricultural land had submitted a proposal to the Government of Macau that the replacement lands can provide gross floor area of approximately 60,969 square meters, comprising of residential units, commercial units and car parks.

Jiayuan International is seeking to invest in quality property development projects in the metropolitan circle of the Pearl River Delta so as to capitalize on the Chinese government's plan for developing a cluster of cities in the Guangdong-Hong Kong-Macau Bay Area. The acquisition of the lands in Macau fits in with this strategy for development and is itself an excellent opportunity for investment to establish its presence in the Macau property market. It will allow the Group to enhance its brand influence in the Pearl River Delta Metropolitan Circle and expand its land bank outside mainland China. It will also help to reinforce the Group's strong brand in the Guangdong-Hong Kong-Macau Bay Area and bring synergy to the Group's existing property development projects in the region.

Mr. Shum Tin Ching, Founder and Chairman of Jiayuan International said, "Lands by the Avenida Dr. Sun Yat-Sen are prime sites on the seafront of the Macau Peninsula. Through this transaction, the Group has acquired a prime site for comprehensive land development. This will enhance the Group's competitiveness in the property markets of the Guangdong-Hong Kong-Macau Bay Area. The Group will continue to focus on Jiangsu Province and, at the same time, strategically expand its business in the metropolitan circle of the Pearl River Delta. It will continue to increase its quality land bank in the Guangdong-Hong Kong-Macau Bay Area through various channels so as to increase its market share there."

About Jiayuan International

Jiayuan International is an established property developer of large-scale residential and integrated commercial complex projects in different major cities in the PRC. With over 20 years of experience in property development, the Group offers property projects to satisfy different demands through comprehensive planning, high quality control, sophisticated operating systems and experienced professional teams to meet the needs of different regions and strengthen the Group's brand image. The Group has a portfolio of 29 property projects in the PRC, including 21 residential complex projects, 8 commercial complex projects covering cities such as Changzhou, Nanjing, Yangzhou, Taizhou, Nantong, Zhenjiang, Taixing, Suqian, Siyang and Taicang as at 30 June 2017. The Group has successfully entered into the market of the Pearl River Delta in 2016, extending the business footprint to the major cities in Guangdong Province including Shenzhen.