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(incorporated in Hong Kong with limited liability)
(Stock Code: 688)
LAND ACQUISITION UPDATE
FOR THE FIVE MONTHS ENDED 31 MAY 2019
China Overseas Land & Investment Limited (the "Company") wishes to provide to its shareholders the below update on the land acquisitions carried out by the Company and China Overseas Grand Oceans Group Limited ("COGO"), an associate of the Company, for the five months ended 31 May 2019 (the "Land Acquisition Update"). The Land Acquisition Update is also available on the website of the Company (www.coli.com.hk).
For May 2019, the Company (together with its subsidiaries (collectively, the "Group")) acquired 2 land parcels in Hong Kong and Shenyang with aggregate attributable gross floor area ("GFA") of approximately 222,412.80 square meters, of which one will be developed in form of cooperation project. The land premium payable by the Group in respect of the relevant land acquisitions amounted to approximately RMB2,790.09 million.
In addition, for May 2019, COGO (together with its subsidiaries (collectively, the "COGO Group")) acquired 1 land parcel in Jilin, Jilin Province with an attributable GFA of 632,824.00 square meters. The land premium payable by the COGO Group in respect of such land parcel amounted to approximately RMB1,011.51 million.
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Details of the land acquisitions are set out below for reference:
Land parcels acquired by the Group in 2019
City in which | Name of | Percentage | Attributable | Land | ||||
Date of | land | interest | Land area | Total GFA | premium | |||
No. | development | GFA | ||||||
acquisition | acquired is | attributable to | 2 | 2 | (RMB mn) | |||
project | (m ) | (m ) | 2 | |||||
located | the Company | (m ) | (Note 1) | |||||
1 | February | Shanghai | Putuo District | 100% | 30,603.00 | 121,189.00 | 121,189.00 | 3,979.00 |
Project | ||||||||
2 | February | Taiyuan | Wanbailin | 100% | 45,095.76 | 220,141.00 | 220,141.00 | 358.40 |
District Project | ||||||||
3 | February | Beijing | Daxing District | 100% | 79,276.91 | 273,372.00 | 273,372.00 | 4,440.00 |
Project | ||||||||
4 | March | Shenyang | Shenbei New | 100% | 124,689.00 | 418,064.00 | 418,064.00 | 1,558.61 |
District Project | ||||||||
5 | March | Shijiazhuang | Zhengding New | 100% | 50,338.71 | 136,965.45 | 136,965.45 | 800.00 |
District Project | ||||||||
6 | March | Foshan | Shunde District | 100% | 76,338.65 | 231,300.00 | 231,300.00 | 1,849.62 |
Project | ||||||||
7 | March | Dalian | Ganjingzi | 100% | 81,514.10 | 201,300.00 | 201,300.00 | 982.68 |
District Project | ||||||||
8 | March | Hong Kong | Kai Tak Project | 30% | 9,583.00 | 67,081.00 | 20,124.30 | 2,534.59 |
#1 | (Note 2) | |||||||
9 | April | Guangzhou | Liwan District | 100% | 12,460.00 | 78,956.00 | 78,956.00 | 1,965.71 |
Project | ||||||||
10 | April | Guangzhou | Panyu District | 100% | 28,801.00 | 123,247.00 | 123,247.00 | 1,390.67 |
Project | ||||||||
11 | April | Dongguan | Wanjiang | 100% | 25,534.59 | 123,345.00 | 123,345.00 | 1,437.86 |
District Project | ||||||||
12 | April | Xiamen | Jimei District | 100% | 44,628.46 | 183,657.00 | 183,657.00 | 3,860.00 |
Project | ||||||||
13 | April | Shenyang | Heping District | 100% | 2,982.32 | 6,561.10 | 6,561.10 | 27.56 |
Project | ||||||||
14 | April | Hangzhou | Xiacheng | 100% | 24,598.00 | 96,665.00 | 96,665.00 | 1,734.75 |
District Project | ||||||||
15 | April | Suzhou | Industrial Park | 100% | 78,440.69 | 184,973.84 | 184,973.84 | 3,563.60 |
District Project | ||||||||
16 | April | Ningbo | Haishu District | 100% | 71,182.00 | 233,790.00 | 233,790.00 | 3,397.16 |
Project | ||||||||
17 | May | Hong Kong | Kai Tak Project | 18% | 9,765.00 | 107,760.00 | 19,396.80 | 1,948.93 |
#2 | (Note 3) | |||||||
18 | May | Shenyang | Hunnan District | 100% | 71,986.03 | 203,016.00 | 203,016.00 | 841.16 |
Sub-total for the Group: | 867,817.22 | 3,011,383.39 | 2,876,063.49 | 36,670.30 | ||||
Land acquisitions by the COGO Group in 2019 | ||||||||
Attributable | Land | |||||||
Land area | Total GFA | premium | ||||||
GFA | ||||||||
2 | 2 | (RMB mn) | ||||||
(m ) | (m ) | 2 | ||||||
(m ) | (Note 1) | |||||||
Sub-total for the COGO Group: | 725,321.00 | 2,344,189.00 | 2,344,189.00 | 10,165.53 | ||||
TOTAL: | 1,593,138.22 | 5,355,572.39 | 5,220,252.49 | 46,835.83 | ||||
Notes:
- The land premium illustrated in the table above represents the full sum of land premium payable by the Group in respect of the relevant acquisition.
- Exchange rate of HK$ to RMB is 0.854.
- Exchange rate of HK$ to RMB is 0.86.
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The above Land Acquisition Update has been prepared based on the respective internal management records of the Company and COGO which have not been audited nor reviewed by external auditors, and as such the data contained therein is for investors' information only. Such data may differ from the figures to be disclosed in the audited or unaudited consolidated financial statements to be published by the Company and COGO on an annual, semi-annual or quarterly basis due to various uncertainties during the process of collection and collating of such data. The Land Acquisition Update does not constitute, nor should it be construed as, an offer or solicitation for the purchase or sale of any securities or financial instruments of the Company or any of its subsidiaries, joint ventures or associates. It does not and is not intended to provide any investment service or investment advice.
By Order of the Board
China Overseas Land & Investment Limited
Yan Jianguo
Chairman and Chief Executive Officer
Hong Kong, 6 June 2019
As at the date of this announcement, Mr. Yan Jianguo (Chairman and Chief Executive Officer), Mr. Luo Liang and Mr. Guo Guanghui are the executive directors; Mr. Chang Ying is the non-executive director; and Mr. Lam Kwong Siu, Dr. Fan Hsu Lai Tai, Rita and Mr. Li Man Bun, Brian David are the independent non-executive directors of the Company.
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China Overseas Land & Investment Limited published this content on 06 June 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 06 June 2019 09:47:11 UTC