HONG KONG, CHINA--(Marketwired - Sep 5, 2016) - CIFI Holdings (Group) Co. Ltd. ("CIFI", or the "Group") (HKSE: 884), one of the top 20 real estate developers in China, is pleased to announce that the Group will collaborate with Henderson China Properties Limited ("Henderson China") to jointly develop five projects in the major cities of the Yangtze River Delta, including three projects located in Suzhou and other two projects located in Yixing and Changsha respectively, with an aggregate gross floor area of 931,421 sq.m. The Group will invest approximately RMB1.037 billion for these five projects owned by Henderson China.
The five projects include: (i) Suzhou Riverside Park Phase 2; (ii) Suzhou Riverside Park Phase 3; (iii) Suzhou Xiangcheng District G3 Project; (iv) Yixing Grand Lakeview; and (v) Changsha Arch of Triumph, in which CIFI is entitled to economic interests of 30%, 30%, 30%, 50% and 30% respectively; while the corresponding average land costs as implied CIFI's investments are approximately RMB9,768, RMB10,468, RMB2,014, RMB1,737 and RMB763 per sq.m., respectively.
Mr. LIN Zhong, Chairman of CIFI, said, "CIFI is pleased to collaborate with Hendersion China who is the Group's important and long-term strategic partner. CIFI will continue to partner with leading blue-chip property developers so as to further enhance its financial strengths and profibility, as well as generate higher returns to shareholders and business partners."
About CIFI Holdings (Group) Co. Ltd.
Headquartered in Shanghai, CIFI is one of China's top 20 real estate developers. CIFI principally focuses on developing high quality properties which target the end-users in first- and second-tier cities in the country. CIFI develops various types of properties, including residential flats, office buildings and commercial complexes.
To learn more about the Company, please visit CIFI's website at: http://www.cifi.com.hk