Guangzhou Yungang City Project

The Guangzhou Yungang City Project consists of three pieces of land (namely Land Plot Nos. AB2910004, AB2909009 and AB2909011) located at the core area of Baiyun New Town, Baiyun District, Guangzhou City, the PRC, with an aggregate site area of approximately 116,471 sq. m. and a total GFA included in the calculation of the plot ratio of approximately 506,000 sq. m. The nature of the land is a state-owned construction land, of which Land Plot No. AB2909011 is planned for residential purpose, and Land Plot Nos. AB2910004 and AB2909009 are planned for commercial and business purpose.

The core area of Baiyun New Town, Baiyun District, Guangzhou City, the PRC, at which the land parcel is located, is positioned to be the hub for headquarters, and is planned as a cluster of corporate headquarters, aviation industry and commercial hotel service functions, focusing on the development of headquarters economy and attracting the headquarters of large corporations and small and medium-sized enterprises. The project is located to the north of Yuncheng South Fourth Road and south of Qixin Road, and on the two sides of Yuncheng West Road, and is connected to major transport networks. It is adjacent to Baiyun Park Station of Guangzhou Metro Line 2 and trunk roads such as the Airport Expressway and the Baiyun Avenue, and it is only about 30 kilometres away from the Guangzhou Baiyun International Airport. In addition, as the Airport Avenue is expected to fully open within the year of 2022 while Guangzhou Metro Line 12 is expected to open in 2023, travel between the project and its surrounding areas will be more convenient in due course. The project is situated in a well-developed neighborhood where commercial shopping centres, schools, hospitals, parks and the Guangzhou Gymnasium are within a three-kilometre radius, and it is close to the scenic area of Baiyun Mountain. With the significant advantage of the project in terms of its location, environment, accessibility to transport network and the development of industries nearby, it has promising market prospects.

The project has adopted a model of development by phases. As at 30 June 2022, the properties of each phase of the project are carrying out the construction work of basement and superstructure, and the overall project is expected to be filed for completion in 2025. The pre-sale of the project commenced in July 2022.
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Properties Held for Sale under Development

Property projectLocationUseInterest held by the GroupApproximate total site area
(sq. m.)
Approximate GFA included in calculation of plot ratio*
(sq. m.)
ProgressExpected completion and filing date
Guangzhou Yungang City ProjectGuangzhou City, the PRCResidential/
Commercial
100%114,463506,000Basement and superstructure construction works of each phase of the properties underway2025
* Note: Including the project's common area and area transfer to the government.

Properties Held for Sale under Development which Pre-sale has Commenced

Property project Location Use Interest held by the Group

Approximate GFA
available for sale
(sq. m.)

Approximate GFA contracted The proportion of accumulated GFA contracted to GFA available for sale Date of pre-sale

First three quarters of 2022
(sq. m.)

Accumulated
(sq. m.)
Guangzhou Yungang City Project Guangzhou City, the PRC Residential/ Commercial 100% 125,605 16,077 16,077 12.8% July 2022