Recently, the subsidiary of New World China Land Limited ("New World China Land" or "the Group" for short; HK stock code: 917) and New World Development Company Limited have jointly obtained the development right of the land parcel for residential and business and financial project of Yuzhuang (Phase I) Gaoliying Town Shunyi District Beijing with RMB 820 million.
The land parcel covers a total area of 267,918 sq m, including 183,261 sq m planned for construction, and 84,657 sq m withheld for public facilities. The gross floor area of the project is 200,012 sq m, including 88,400 sq m of resettlement area, and 105,110 sq m of commodity house area, with the plot ratio of 1.1; 3,139 sq m of business and financial building area, with plot ratio of 1.0; and 3,363 sq m of education matching facility, with plot ratio of 0.8.
Located at Shunyi Section of Wenyuhe Green Eco-Corridor of Yuzhuang Village, Gaoliying Town, Shunyi District, Beijing, and in the northern end of the Central Villa Area, the project parcel reaches Gaosi Road in the east, 1st Guihua Road in the south, the boundary of Tangzitou Village in the west, and the boundary of Wanglu Village in the north and will be built into a high-quality, low-density residential community in the future. According to the plan, the project will start construction in March 2011, and will be completed in October 2013, with the overall construction cycle of 35 months.
The successful bid for the land parcel in Shunyi District Beijing this time is another highlight of New World China Land in the wake of obtaining the two land parcels in Langfang and Tangshan respectively in August and November this year. Relying on its many years' experience in urban development and upholding the conviction of being a city builder, New World China Land is confident of driving the progress of China's urbanization steadily and pragmatically.