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HKR International Limited

11/30/2021 | Press release | Distributed by Public on 11/30/2021 20:11

HKR International Limited Successfully Bid for a Residential Site in Shanghai

HKR International Limited ("HKRI") announced that it had made a successful bid for a residential land lot in Songjiang District, Shanghai at a consideration of RMB830.4million, demonstrating the Group's determination in further developing its business in the Yangtze River Delta region.

Located in Songjiang District, the plot (Land lot No. SJS30003-02-04) is surrounded by Peigou stream and Caijiabang Road. With a plot ratio of 1.1, the land covers a site area of 33,539.2 square metres and a gross floor area of 32,528 square metres, 5% of which will be developed into security housing. The green ratio of the site is around 35%.

This picturesque site enjoys excellent connectivity with multiple highways nearby, such as Xinzhuan Highway, Sizhuan Highway, G15 Shen Hai Expressway and G60 Shanghai-Kunming Expressway, and the West extension of Shanghai Metro Line 12 that will pass through the site is currently underway. With technology industrial parks, schools and other community facilities in close proximity, the plot has great potential in attracting talents and boosting local economy.

Ms Violet Lam, General Manager - Business Development & Marketing said, "We are thrilled to win the bid for this premium residential land in Songjiang District, which is part of the strategic development in Shanghai's 14th Five-Year Plan and will be developed into an important hub among cities in Yangtze River Delta. With its prime location, Songjiang will attract enterprises and talents of the technology industry and the residential market is expected to thrive with high demand."

HKRI will develop the site into a low-density residential project, bringing more choices of high-quality residences for the community and echoing the local government's plan to attract new talents, diversify the housing supply system, and establish a high-standard strategic development of Songjiang District.

Other than commercial properties, such as HKRI Taikoo Hui in Shanghai and The Exchange in Tianjin, the Group's residential projects, namely Elite House in Shanghai, City One, Riviera One, Creekside One and Mansion One in Jiaxing, and Oasis One in Hangzhou, are well-received by the general public. Following the acquisition of the Qingshan Lake Project in Hangzhou West Science and Technology Innovation Corridor in 2020, HKRI entered into an agreement to purchase various units of Jinsha INCITY, an office tower in Hangzhou, in September this year. HKRI will continue to expand our business in the Yangtze River Delta Region and create quality lifestyle communities.

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's diverse portfolio includes Discovery Bay and CDW Building in Hong Kong, HKRI Taikoo Hui in Shanghai, and a number of premium residential and commercial properties in Thailand and Japan. HKRI has been listed on The Stock Exchange of Hong Kong since 1989, under the Stock Code of 00480.

Website: www.hkri.com

Ends

This press release is issued by HKR International Limited.