2015.12.24

Times Property, on December 23, 2015, bid RMB 854 million, equivalent to the floor price of RMB 9,661.84 per square meter plus a 66% premium, and successfully won an ideally located tract of residential land at Haisan Road, Guicheng Subdistrict, in Foshan. The buildable area is 35,300 square meters with a plot ratio of 2.5 and a gross floor area (GFA) of 88,400 square meters.

· Plot Location Map

The trend toward the integration of Guangzhou and Foshan is now set, and there is great progress in the endeavor. Guicheng Subdistrict--a major town along the Guangzhou-Foshan extension line in Nanhai District--is a key connection between Guangzhou and Foshan. Importantly, Guicheng offers quality amenities and a comfortable environment, making it an ideal choice for home buyers from Guangzhou and Foshan.

The newly purchased plot has favorable geographic conditions, which are in turn highlighted by developed amenities. It rests in a section of the former Guicheng Subdistrict, next to Qiandenghu Lake (Lake of a Thousand Lanterns) and the Guangdong Financial High-Tech Service Zone. The surrounding road network is well developed too, thereby facilitating a convenient commute for area residents. Haisan Road, Nanyi Road and Nanhai Avenue bound the plot on the north, west and east, respectively. Moreover, the plot is just two kilometers from Qiandenghu Lake, while in a neighboring area the planned Nanhai Square Station of Foshan Metro Line 3 will be built. With the opening of the Guangzhou-Foshan metro line, the Liwan and Haizhu districts will be just half an hour away.

·Amenities surrounding the plot

The surrounding amenities for life, education, healthcare and municipal services are among the most developed in Foshan. Nanhai Square, Hongda Square, Huichao Tiandi Square, the Guijiang No. 2 Middle School, the No. 1 Middle School of Foshan, Haisan Road Primary School, the Integrated Hospital of Traditional Chinese Medicine and Western Medicine of Guangdong, the Qiandenghu Lake Park and more are found in the surrounding area. Currently, however, there are few new residential properties surrounding the plot, so the market demand for properties will be heavy from the onset. Thus, the acquisition of the land will further enhance the brand influence of Times Property in Foshan and throughout the fabled Pearl River Delta.