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Greenland HK plans to acquire assets from Greenland Group for the second time
Buying 55% stake of Greenland Kunming Project
Continuous injections of high-quality assets, Greenland HK seeks high-speed growth in 2014
31 Oct. 2013 Keywords: Greenland Hong Kong Kunming 55% stake Injection
15 January 2014, Hong Kong/Shanghai – Greenland Hong Kong Holdings Limited ("Greenland HK" or "the Company", 337.HK), is pleased to announce that it entered intoa cooperationagreement with China`s leading property developer China Resources Land Limited("China Resources Land", 1109.HK)on 14 January 2014 that the two parties will respectively hold 50% stakeof the Project Company, which is fully responsible for the development of Huangpu land parcel,through their indirect wholly-owned subsidiaries, and bear the registered capital, shareholder's loan, land consideration, future funding needsof the Project Company andarrangeprofit distribution on a 50:50 basis.

The Huangpu land parcel refers to Wuliqiao community 99 street 2/2 land parcel and 7/2 commercial, residential and office land parcel at Huangpu District of Shanghai City. It has a land area of 64,980 square meters and planned gross floor area of 246,000 square meters. Greenland HK won the bid for the land parcel through True Thrive Investments Limited, an indirect wholly-owned subsidiary of the Company, at thebase price of RMB 5.95 billion. Located at the center of Shanghai city, the land parcel is west of Mengzi Road, north of East Longhua Road, east of Luban Road and south of the Planned Green Belt. It is close to the North-South Elevated Road, adjacent to Luban Road Station of the Metro Line 4 and Line 13 (under construction), and surrounded by dense population with convenient transportation. The land parcel is planned for commercial, office and residential use, and is a clean land when the transaction occurred.

Chen Jun, Chairman and CEO of Greenland HK, said, "We are very pleased tointroduce China Resources Land, one of the most integratedreal estate developers in Mainland China, as our partner to jointly develop this golden project at prime location in Shanghai. The two parties hold the same philosophy in the development plans and direction for the project. We believe that joined forces of Greenland HK and China ResourcesLand to form a strategic alliance will maximize the advantages of both parties and add more flexibility for financial, development and management resources, which will help build the project into a new landmark in Shanghai."

China Resources Land is a public company incorporated in the Cayman Islands with limited liability, whose shares are listed on the Hong Kong Stock Exchange.The principal business ofChina ResourcesLand and its subsidiaries include the development and sales of developed properties, property investments and management, hotel operations and the provision of construction, decoration and other property development related services in the PRC.
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