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Evergrande Acquires Four Projects of New World with RMB 13.5 Billion

 Date:2015.12.04   Publisher:Evergrande Group

In the evening on December 2, Evergrande Real Estate (HK.3333) announced that it would acquire four super large projects of Hong Kong New World, which are located in three big cities including Haikou in Hainan Province, Wuhan in Hubei Province and Huizhou in Guangdong Province, with a total floor area of nearly 4 million square meters and a total amount of RMB 13.5 billion.

According to the announcement, the four projects are located in the central urban space, and their geographical positions are superior. Among them, Haikou project  is close to the  bustling international trade business circle in Haikou, with a total floor area of nearly 2 million square meters and a floor price of only RMB 2,850/square meter; the two projects in Wuhan are located within Wuhan Central Business District (CBD), with a total floor area of about 1.3 million square meters and a floor price of only RMB 3,500/square meter; and Huizhou project is located within one-hour economic and life circle around Shenzhen, with a total floor area of 0.55 million square meters and a floor price of only RMB 1,122/square meter.

The market participants think that the projects acquired by Evergrande this time are high-quality. Their acquisition prices are far lower than the surrounding land prices. Besides, the terms of payment are very favorable and the cost performance is very high. Meanwhile, New World is one of the largest real estate groups in Hong Kong and even in Asia, and it has a global influence. Evergrande acquires at one fling four super large project of Hong Kong New World in mainland China, which shows the strong development momentum and powerful strength of Evergrande.

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