YANLORD LAUNCHES INAUGURAL BATCH OF 636 APARTMENT UNITS AT NANJING YANLORD YANGTZE RIVERBAY TOWN PHASE 1; CONTRACTED PRE-SALES OF RMB 1.15 BILLION RECORDED FOR INITIAL 597 UNITS SOLD (23rd July 2009 – Singapore/Hong Kong) -- YANLORD LAND GROUP LIMITED (“Yanlord”, and together with its subsidiaries, the “Group”) announced today that it had sold approximately 94% or 597 of the 636 apartment units in Nanjing Yanlord Yangtze Riverbay Town* Phase 1 that were launched on 18 July 2009. Average selling price (“ASP”) of approximately RMB15, 000 per square metre (“sqm”) was achieved for the 76,600 sqm gross floor area launched. Commenting on the inaugural launch of apartment units, Yanlord’s Chairman and Chief Executive Officer, Mr. Zhong Sheng Jian, said, “We are heartened by the positive market response for the inaugural launch of apartment units at Nanjing Yanlord Yangtze Riverbay Town. Building on the success of our other developments in Nanjing such as Yanlord International Apartments, Bamboo Gardens, Orchid Mansions and Plum Mansions, this latest launch of apartment units achieved contracted pre-sales of approximately RMB 1.15 billion for the initial 597 apartment units sold during the first four days of the launch and stands testament to the continued consumer confidence in Yanlord’s commitment to deliver quality developments. Moving forward, we remain steadfast in our commitment to build internationally recognized developments and will seek to consistently exceed the expectations of our discerning customers. With the success of this inaugural launch, we are confident that sales of Nanjing Yanlord Yangtze Riverbay Town will contribute significantly to the Group’s future performance.” ### END ###
*Nanjing Yanlord Yangtze Riverbay Town (previously known as Nanjing Yanlord Yangtze Riverside City)
Issued on behalf of Yanlord Land Group Limited by WeR1 Consultants Pte Ltd Analysts & Media Contact: Anyi Wang
Michelle Sze, Assistant to CEO
Head of Corporate Finance and Relations
Head of Investor Relations
Phone: (852) 2861 0608
Phone: (852) 2861 0608
[email protected]
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PR Consultant : WeR1 Consultants Pte Ltd Yim Jeng Yuh / Ng Chung Keat Phone: (65) 6737 4844
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About Yanlord Land Group Limited: Yanlord Land Group Limited (Z25.SI) is a real estate developer based in the People’s Republic of China, with a focus on the development of high-end fully fitted residential, commercial and integrated property projects in strategically selected key and high-growth cities in the PRC. Yanlord Land Group was listed in June 2006 on the main board of the Singapore Stock Exchange. Since Yanlord’s foray into the PRC market in 1993, it has successfully developed a number of large-scale residential property developments in Shanghai and Nanjing with international communities of residents – such as Yanlord Garden, Yanlord Riverside Gardens and Yanlord Riverside City in Shanghai and Orchid Mansion, Bamboo Garden and Yanlord International Apartments in Nanjing. The “Yanlord” name has been developed into a premium brand, synonymous with quality, within the property development industry of PRC. Currently the Group has established presence in eight key high-growth cities within the four major economic regions of the PRC, namely, (i) Yangtze River Delta – Shanghai, Nanjing and Suzhou; (ii) Western China – Chengdu and Guiyang; (iii) Bohai Rim – Tianjin; and (iv) Pearl River Delta – Zhuhai and Shenzhen. The Group has proactively extended its commercial property development projects, acquired a considerable number of land parcels for commercial use and commenced the construction of retail malls, offices, hotels and serviced residence developments. Upon completion, the projects are expected to generate stable rental income and increase the asset value for the Group.
Note: Due to the uncertainty of sales process, the above mentioned periodic sales data & figures may vary with each instance. Therefore, the figures provided are meant for reference purposes.