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Xinyuan Real Estate Co Ltd Announces Land Acquisitions


Monday, 30 Sep 2013 08:30am EDT 

Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") announced that it has recently acquired four land parcels via auction. The first parcel of land offers a total site area of approximately 114,624 square meters and is located in Suzhou, Jiangsu Province. Xinyuan paid a total of CNY1 billion (approximately USD163 million) for the land use rights for the parcel. The second parcel of land offers a total site area of approximately 47,710 square meters and is located in Xingyang, Henan Province, a county-level city located 15 kilometers in the west of Zhengzhou, capital of Henan Province. Xinyuan paid a total of CNY116.55 million (approximately USD19 million) for the land use rights for the parcel. The third and fourth land parcels are adjacent to one another in the Er Qi District of Zhengzhou, which is located near the south 4th ring road of the city. The Company expects to develop the two parcels of land as one project for a total site area of approximately 84,387 square meters. Xinyuan paid a total of CNY321 million (approximately USD52 million) for the land use rights for the project. 

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