PRESS RELEASE – YANLORD ACQUIRES TWO ADJACENT
DEVELOPMENT SITES IN HAINAN PROVINCE FOR RMB2.11
BILLION; LATEST ACQUSITION MARKS THE GROUP’S
MAIDEN FORAY INTO HAINAN’S TOURISM AND HOSPITALITY
SECTOR
¾ Sites with a combined GFA of 155,268 square metre (“sqm”) were
acquired for RMB 2.11 billion in a public land auction
¾ Situated in Hainan’s picturesque Hai Tang Bay, these two land parcels
will be used for the development of a 5-star hotel and serviced residences
¾ Latest acquisition marks Yanlord’s maiden foray into Hainan’s tourism
and hospitality sector and will capitalize on the rapid development of the
area to further enhance the Group’s investment property portfolio
(13 January 2010 – Singapore / Hong Kong) -- YANLORD LAND GROUP LIMITED
(Z25.SI) (“Yanlord”, and together with its subsidiaries, the “Group”), a real estate developer
focused on developing high-end residential property projects and integrated commercial
developments in strategically selected key and high-growth cities in the People’s Republic of
China (“PRC”), announced today that its subsidiary, Shanghai Yanlord Property Co. Ltd together
with its Singapore-based partner, Jing Hope Holdings Pte. Ltd have jointly acquired two adjacent
land parcels with a total planned gross floor area (“GFA”) of approximately 155,268 sqm in Hai
Tang Bay, Sanya, Hainan province for RMB 2.11 billion in a public land auction.
Ideally situated on the eastern ridges of Hainan’s resort city Sanya, the two adjacent sites, No. 9
and No. 10 enjoy panoramic views of the Hai Tang Bay and its surrounding beaches. The sites
also benefit from its close proximity to key amenities including a 333,000 sqm theme park and
lush surroundings from an extensive ecological belt.
Hainan is the PRC’s largest Special Economic Zone and its only province within the tropical
climate belt. Fondly referred to as the “Hawaii of China”, Sanya, which lies on the southern edge
of Hainan, has been the destination of choice for tourist seeking holidays in a tropical climate
setting. On 31st December 2009, the PRC Central Government issued its opinion to strategically
position Hainan as an international tourist destination of choice by 2020. Under this opinion, Hai
Tang Bay, which is less developed than other mature tourist destinations in Sanya such as Yalong
Bay and Da Dong Hai, has been earmarked as a new focal development area with encouragement
from the provincial and municipal governments for reputable developers to partake in its
development. The Hai Tang Bay area has attracted many international hospitality groups such as
Shangri-la, Sheraton, Sofitel, Conrad Hotels, Grand Hyatt, Fairmont, Intercontinental and
Kempinski who will begin development of resorts and hotels from 2010 to 2013.
Slated for the development of a 5-star hotel and serviced residences, the latest acquisition of the
two land parcels is underscored by the Group’s continued focus on the development of a
comprehensive investment property portfolio which includes holdings in serviced residences,
retail malls, grade A offices and 5-star hotels. As at 30 September 2009, the Group has set aside
approximately 500,000 sqm GFA for the development of its investment property portfolio.
Yanlord holds an effective 50% stake in the Hainan land parcels.
Commenting on the above acquisition, Yanlord’s Chairman and Chief Executive Officer, Mr.
Zhong Sheng Jian, said, “This latest acquisition is part of our expansion strategy in China and
underlines our strategic initiatives to develop a comprehensive investment property portfolio. The
growing acceptance of Hainan as an international tourist destination coupled with the
government’s support provides significant opportunities for Yanlord and our partner, Jing Hope
to collaborate in the development of high-end hospitality projects. Leveraging on the ideal setting
of these two land parcels and the Group’s extensive experience in high-end property development,
we are confident that this latest development will contribute positively to the development of our
investment property portfolio and the Group’s future performance.”
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Issued on behalf of Yanlord Land Group Limited by WeR1 Consultants Pte Ltd
Analysts & Media Contact:
Anyi Wang
Head of Corporate Finance and Relations
Phone: (852) 2861 0608
anyi.wang@yanlord.com
PR Consultant :
WeR1 Consultants Pte Ltd
Yim Jeng Yuh / Ng Chung Keat
Phone: (65) 6737 4844
yimjy@wer1.net / ngck@wer1.net
About Yanlord Land Group Limited:
(Company Registration No. 200601911K)
Yanlord Land Group Limited (Z25.SI) is a real estate developer based in the People’s Republic of
China, with a focus on the development of high-end fully fitted residential, commercial and
integrated property projects in strategically selected key and high-growth cities in the PRC.
Yanlord Land Group was listed in June 2006 on the main board of the Singapore Stock Exchange.
Since Yanlord’s foray into the PRC market in 1993, it has successfully developed a number of
large-scale residential property developments in Shanghai and Nanjing with international
communities of residents – such as Yanlord Garden, Yanlord Riverside Gardens and Yanlord
Riverside City in Shanghai and Orchid Mansion, Bamboo Garden and Yanlord International
Apartments in Nanjing. The “Yanlord” name has been developed into a premium brand,
synonymous with quality, within the property development industry of PRC. Currently the Group
has established presence in eight key high-growth cities within the four major economic regions
of the PRC, namely, (i) Yangtze River Delta – Shanghai, Nanjing and Suzhou; (ii) Western
China – Chengdu; (iii) Bohai Rim – Tianjin; and (iv) Pearl River Delta – Zhuhai and Shenzhen.
The Group has proactively extended its commercial property development projects, acquired a
considerable number of land parcels for commercial use and commenced the construction of
retail malls, offices, hotels and serviced residence developments. Upon completion, the projects
are expected to generate stable rental income and increase the asset value for the Group.