HKR International Limited (“HKRI”) announced that it made another successful bid for a premium residential land lot in Yaojiadang Area, Jiaxing, PRC at a consideration close to RMB200 million yesterday following its successful bid of a Shijiuyang low-density land lot in the city last December. The Group is currently managing and developing four projects in the city, demonstrating the Group’s determination in further developing its business in the Yangtze River Delta region.
Located in the Southern International Business Hub, the plot (Land lot No. Jing Kai 2017-34) is in close proximity of the Group’s City One and Riviera One developments, nearby the Yaojiadang Park, Changxin Park and a large piece of wetland. The lot, classified as Class 2 residential land, is suitable for low-density development with a site area of 12,431 square metres and a gross floor area of 19,890 square metres. Its plot ratio is 1.3 to 1.6.
The land’s prime location and picturesque scenery attracted five developers to join the bid. The Group’s subsidiary, 嘉興興裕實業有限公司(Jiaxing Xingyu Company Limited), won the bid at a consideration of approximately RMB 200 million. The price per square metre is RMB 10,038.
Mr Victor Cha Mou Zing, Deputy Chairman and Managing Director of HKRI said, “We are excited in winning the bid for another premium residential land at Yaojiadang, which gave us a good start for the year. It will be our fourth project in Jiaxing and we are optimistic to its development due to its prime location. Our existing projects City One and Riviera One have also been well-received by the market. We will continue to expand our business in Jiaxing and to create quality lifestyle communities for residents in the Yangtze River Delta Region. ”
The Group’s City One project in Jiaxing has received high acclaim from general public while its Riviera One development has been named “The Most Anticipated Residential Project 2017” and won the “Habitat of Honour Award 2017” before its official launch. Riviera One’s first batch of units was officially launched on 22 January and received overwhelming response.
About HKR International Limited
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.
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.