Press Releases

(Hong Kong, 20 November 2012) – K. Wah International Holdings Limited (“KWIH” or “the Group”) (stock code: 173) acquired two quality residential land parcels through auction in Shanghai and Dongguan. The 17,913 sqm-site in Puxing, Pudong District of Shanghai, was acquired for RMB 671 million, while the other plot in Xihu, Shilong of Dongguan, covering approximately 80,760 sqm, for RMB 657 million.

The residential site in Puxing, Pudong District of Shanghai, has a plot ratio of 1.8 with total GFA of 30,947 sqm and an accommodation value of RMB21,682 per sqm. The site is located in the well-developed residential community in Puxing, Pudong District. The site also enjoys excellent development potential with direct access to Subway Line 6 and the Middle Ring Line currently under development. Commencing service in 2016, Subway Line 14 and Line 9 extension will conveniently connect the project to Shanghai’s central business district including Lujiazui, Yuyuan, People’s Square, Huaihai Road, Nanjing West Road and Jingan Temple.

The 80,760 sqm land parcel in Xihu, Shilong, Dongguan, has a plot ratio of 2.5 with total GFA of 201,900 sqm and an accommodation value of RMB 3,253 per sqm. Nestled on the south bank of the Dongjiang River in Xihu, the site not only commands a panoramic river view, but also boasts convenient accessibility with the Guangshen Railway located in close proximity and connecting it to the G94 Highway, East Dongguan Highway as well as Shilong Station of Lightrail R2 Line. The neighbourhood is also complete with full amenities such as parks, schools, department stores and hotels, making it a unique premium residential site in the district.

Paddy Lui, Executive Director of KWIH, said, "The acquisition of the two land parcels in Shanghai and Dongguan has strengthened the Group’s premium landbank in Mainland China to better cater to the strong market demand. While launching various projects, the Group also capitalizes on market opportunities to expand its project portfolio by a prudently progressive strategy. Currently, the Group has a total GFA of 1.8 million sqm under development and planning, which enables sustainable growth.”

Leveraging on the Group’s expertise and strengths in developing niche and premium projects boasting a perfect blend of innovative and artistic features, KWIH is committed to creating a quality living environment for home buyers while delivering promising returns to shareholders.

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Appendix：KWIH’s Recent Land Acquisitions in Hong Kong, the Yangtze River Delta and the Pearl River Delta