HKR International Limited (“HKRI”) announced that it won a bid to acquire a premium land lot for residential use in Jiaxing on 27 December 2017.  This is the third land lot acquired by HKRI in Jiaxing, signifying the Group’s determination in further developing its real estate business in the Yangtze River Delta region. 

 

This auction attracted more than 10 developers due to the land’s prime location and suitability for development into a low-density residential area. The Group’s subsidiary, 嘉興興裕實業有限公司(Jiaxing Xingyu Company Limited), won the bid with a consideration of  RMB 327 million, representing a premium of 43.3%. The price per square metre is RMB 10,039.

 

The land lot is located in the heart of the Jiaxing Economic and Technological Development Zone (Land Lot No. 2017-28), bounded by the land used by the Port and Marine Authority and Shiji Jiaotong to the east, Dongsheng West Road to the south, Changsheng West Road to the west and Yanjinggang Green Belt to the north, and is in close proximity to the Shijiuyang wetland. The lot has a site area of 18,082.3 square metres and a gross floor area of 32,548 square metres, with a plot ratio of 1.8.

 

Mr Victor Cha Mou Zing, Deputy Chairman and Managing Director of HKRI said, “The Group is always seeking for suitable investment opportunities in mainland China, with Yangtze River Delta as one of our key focuses. HKRI has already established a firm foothold in Jiaxing and launched the premium residential project City One. The second project Riviera One will also be put up on sale next year. We shall adhere to our ‘We Create a Lifestyle’ motto and continue to develop residential projects with high quality.” 

 

The two projects in Jiaxing have been well recognised by industry practitioners, consumers and the media. Riviera One has been named “The Most Anticipated Residential Project 2017” and won the “Habitat of Honour Award 2017” before its official launch.

 

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HKR International Limited has diversified interests in real estate development and investment, property management, luxury hotels and serviced apartments, healthcare services and other investments in Hong Kong, mainland China and across Asia. 

 

2017 marks the Group’s 40th anniversary. The Company has been listed on The Stock Exchange of Hong Kong since 1989, under the Stock Code of 00480, and it is also a constituent of the Hang Seng Global Composite Index, Hang Seng Composite Index and Hang Seng Corporate Sustainability Benchmark Index.