Xinyuan Announces Cooperation with Sino-Ocean Group on Zhengzhou Projects

Rhea-AI Summary

Xinyuan Real Estate Co., Ltd. (NYSE: XIN) announced a partnership with Sino-Ocean Group for a new project in Zhengzhou, China, on March 18, 2021. This collaboration aims at high-quality residential and commercial development, enhancing Xinyuan's portfolio in urban Zhengzhou. The land parcel spans approximately 47,000 square meters and boasts a prime location with access to transportation and amenities. Chairman Zhang Yong emphasized the potential for mutual growth through this partnership, marking it as a significant step forward for both companies.

Positive

• New partnership with Sino-Ocean Group for Zhengzhou project enhances market presence.
• Project location provides strategic advantages with accessibility to transport and amenities.
• Intent to develop high-quality residential and commercial spaces supports growth strategy.

Negative

• None.

BEIJING, March 18, 2021 /PRNewswire/ -- Xinyuan Real Estate Co., Ltd. ("Xinyuan" or "the Company") (NYSE: XIN), an NYSE-listed real estate developer and property manager operating primarily in China and also in other countries, today announced the partnership with Sino-Ocean Group on lately acquired land parcel in Zhengzhou, China, marking a first step of cooperation between two enterprises. 

Mr. Zhang Yong, Chairman of Xinyuan Group: "In February 2021, Xinyuan and Sino-Ocean Group formed a comprehensive strategic cooperation in high quality residential/commercial development, property management and other innovative businesses in finance and real estate area. Initiating this Zhengzhou project marks significant progress and gets our cooperation off to a promising start."

The parcel is located at the intersection of Daxue Road and South Fourth Ring Road, Erqi District, Zhengzhou, covering an area of approximately 47,000 square meters with maximum plot ratio of 2.9.  As one of the core living area of urban Zhengzhou, this location offers convenient transportation and quality lifestyle with access to the subway line No.7 and proximity to various educational, medical and commercial facilities.

"For over twenty years, Xinyuan has developed and integrated new technologies and best practices to create high living standards with environmental protection and sustainability. The group is also open to opportunities of collaborations with peers or institutions with similar visions. We are confident that this cooperation with Sino-Ocean may benefit the business of both sides and facilitate our future growth." Zhang concluded.

About Xinyuan Real Estate Co., Ltd.

Xinyuan Real Estate Co., Ltd. ("Xinyuan") is an NYSE-listed real estate developer and property manager primarily in China and recently in other countries. In China, Xinyuan develops and manages large scale, high quality real estate projects in over ten tier one and tier two cities, including Beijing, Shanghai, Tianjin, Zhengzhou, Jinan, Qingdao, Chengdu, Xi'an, Suzhou, Dalian, Zhuhai and Foshan. Xinyuan was one of the first Chinese real estate developers to enter the U.S. market and over the past few years has been active in real estate development in New York. Xinyuan aims to provide comfortable and convenient real estate related products and services to middle-class consumers. For more information, please visit http://www.xyre.com.

About SINO-OCEAN GROUP

SINO-OCEAN GROUP HOLDING LIMITED, formerly Sino-Ocean Land Holdings Limited, founded in 1993, is an investment holding company principally engaged in property development and property investment in the People's Republic of China (the PRC). The Company is engaged in property development in Beijing-Tianjin-Hebei, Northeast, Central and Southern. The Company operates its business through three segments: Property Development, Property Investment and All Other segment.

Forward Looking Statements

Certain statements in this press release constitute "forward-looking statements". These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements includes statements about future debt and financial position, potential future collaborative efforts, among others, and can generally be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates" and similar statements. Statements that are not historical statements are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including, but not limited to, our ability to continue to implement our business model successfully; our ability to secure adequate financing for our project development; our ability to successfully sell or complete our property projects under construction and planning; our ability to enter successfully into new geographic markets and new business lines and expand our operations; the marketing and sales ability of our third-party sales agents; the performance of our third-party contractors; the impact of laws, regulations and policies relating to real estate developers and the real estate industry in the countries in which we operate; our ability to obtain permits and licenses to carry on our business in compliance with applicable laws and regulations; competition from other real estate developers; the growth of the real estate industry in the markets in which we operate; the impact of pandemics, such as Covid-19, on the real estate market and the economies in our markets； fluctuations in general economic and business conditions in the markets in which we operate; and other risks outlined in our public filings with the Securities and Exchange Commission, including our annual report on Form 20-F for the year ended December 31, 2019. Except as required by law, we undertake no obligation to update or review publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statement is made.

For more information, please contact:

In China:

Xinyuan Real Estate Co., Ltd.
Mr. Rick Wang
Investor Relations Department
Tel: +86 (10) 8588-9376
Email: irteam@xyre.com

The Blueshirt Group
Ms. Susie Wang
Mobile: +86 (138) 1081-7475
Email: susie@blueshirtgroup.com

In the United States:

The Blueshirt Group
Ms. Julia Qian
Email: Julia@blueshirtgroup.com

 

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SOURCE Xinyuan Real Estate Co., Ltd.

FAQ

What is the significance of Xinyuan's partnership with Sino-Ocean Group?

The partnership aims to enhance residential and commercial development in Zhengzhou, marking a strategic collaboration for both companies.

Where is the new land parcel located?

The land parcel is situated at the intersection of Daxue Road and South Fourth Ring Road in Erqi District, Zhengzhou, China.

What are the dimensions of the new project in Zhengzhou?

The project covers an area of approximately 47,000 square meters with a maximum plot ratio of 2.9.

When was the partnership announced?

The partnership was announced on March 18, 2021.

What does the partnership with Sino-Ocean Group aim to achieve?

The partnership aims to develop high-quality residential and commercial projects, leveraging both companies' strengths.