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[] Evergrande Acquires New World’s Mainland Assets and Packs Five Projects with RMB 20.4 Billion


On December 29, Evergrande Real Estate and New World jointly announced that it would acquire five super large projects of New World and Chow Tai Fook of Cheng Yu Tung family which are located in Beijing Shanghai, Qingdao, Chengdu and Guiyang, with a total floor area of 8.51 million square meters and a total involving amount of RMB 20.4 billion, refreshing the highest historical record of real estate acquisition in China.

According to the announcement, the five projects, compared with the types of surrounding land and property, have great advantages in transaction price, payment conditions and profitability, of which, the transaction price generally has a substantial discount compared with the market price, and the return on investment is generally more than 20%.

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