In the wake of acquiring the right to develop two land parcels in Langfang City Hebei Province, New World China Land Limited ("New World China Land" or "the Group" for short; HK Stock Code: 917) acquired the right to development a land parcel in Tangshan City of the same province with RMB 77.04 million. The land parcel covers an area of 31,600 sq m, with the plot ratio of 7.0, and gross floor area of commodity houses amounting to 176,000 sq m.
The land acquired this time is situated on the intersection of two arteries, Jianshe Road and Xinhua Road, of Tangshan City Hebei Province. As a key development project of Hebei Province, this project is anticipated to be build into an urban complex combining housing, high-grade apartment, department store, and high-rising office building. This project is anticipated to kick off in late 2010.
The presence in real estate market of Hebei Province once again after a short period of three months reveals New World China Land consistently favors the urban development of Hebei Province. Up to date, New World China Land North China has expanded its development domain from the originally seven cities to eight cities, namely Beijing, Tianjin, Shenyang, Anshan, Dalian, Ji'nan, Langfang, and Tangshan. Based on many years' experience in developing urban complex and with the conviction of being a city builder, New World China Land is confident of building Tangshan project into a high quality urban complex and landmark in the core area of the city.