2014.08.15

On August 13, 2014, Times Property invested RMB 247.48 million and successfully purchased by auction a residential plot from east of Gangkou Road to north of Huaxin Road in Shiwan Street, Chancheng District. Its net usable floor area was 17,100 square meters with a floor area ratio of 2.5, its total floor area was 54,000 square meters and its transaction floor price of the total floor area ratio was RMB 5,772 per square meter at a premium of 33%. This was the third project Times Property obtained in the downtown of Chancheng District after Times Cloud Atlas (Foshan).

The land is located in the northern residential area of Foshan New City, a central urban area where the government conducted strong central strategies with constant favorable policies in recent years. After years of development, the area where the land is located has become a residential area with convenient traffic and mature municipal facilities--southern plot, Country Garden, Logan Property Group, Coastal Corporation and other developers have already entered the market and there are an array of brand properties; also China Resources Vanguard Co. Ltd., Hilton Hotels and other related life supporting facilities can also be shared; it also has a higher public awareness, so its value of land speaks for itself.

The land, as the first public bidding residential plot after the government relaxed property-purchasing limitations, is recognized by the market from both the location and future prospects. Foshan is one of the key development cities of Times Property in South China, and increase of land reserve is the basis for sustainable development. The successful bidding of the land marks a significant step taken by Foshan Branch in its plan of regional penetration.