Sunac Real Estate Completes Housing Projects Totaling the Size of Manhattan in 10 Years

CHONGQING, China, March 28, 2013 /PRNewswire/ -- On March 20, 2013, Sunac Real Estate (1918.HK) ("Sunac") held a ceremony to commemorate the completion of a large urban complex in Chongqing, China, Sunac Olympic Garden, which was attended by about 300 representatives of local businesses, banks and media. In 2012, Sunac Olympic Garden Phase 13, Sunac Jinmao Times South Area, was successfully completed, achieving total market sales of 220,000 m². In 2013, Sunac Jinmao Times North Area, with nearly 240,000 m² of commercial space and with immediate, adjoining 170,000 m² high-rises, will be completed, and will be gradually marketed. By then a large housing project with a total floor area of ​​about 3,300 mu, and a total building area of about 2.5 million m², will be completely constructed, becoming the first 3,000 mu-level housing project in China.

In 2004, Sunac began by building roads and other infrastructure and gradually moved to developing large housing projects, constantly injecting new urban value into local areas. From 2004 to 2007, they achieved the goal of building an entire town in three years, providing a healthy and natural life for occupants living in northern Chongqing. Such projects include a gross-volume, high-level quality residential building development, and a 60,000 m² middle school affiliated with Peking University with an investment of 150 million yuan, providing good educational facilities and resources for owners' children. In this way, Sunac was the first to introduce domestic, first-class, well-known schools to Chongqing;

Moreover, Sunac also created high-end leisure and entertainment along Chagngu Community's supporting commercial street. On September 25, 2005, the Global Forum of Human Settlements and Environment was held at Shenzhen, where the United Nations appraised and elected the "Oscars®" of the real estate sector – The Global Habitat Awards, for the first time. The Committee's "United Nations Habitat Environment Award" went to Sunac Olympic Garden, which was the only winning development in Chongqing.

From 2008 to 2011, Okuyama Villa made its debut. Xigu Town, which lies at the foot of Olympia Hill, was the largest-volume pure villa area, with its more than 1,000 mu project. To this day, there are still few pure villa areas comparable to Okuyama Villa in Chongqing. The project has become a world-class hillside garden city, offering a top lifestyle for Chongqing people, which offers "international living functions" while Chongqing moves towards becoming an international metropolis.

In 2013, the 450,000 m² urban business complex, Sunac Jin Mao Times, was carried out, which is committed to providing a best office platform with good environment and comfortable atmosphere for enterprises within the area. With the continuing wave of urbanization, a new urban commercial complex center came into being, offering commercial, business, residential and other comprehensive supporting services for the ten-year golden development of the Two Rivers New District. Its unique business advantages have attracted a wide range of businesses and enterprises to come. In 2012, it took the first place in sales of business apartments and office buildings, with 1.772 billion-yuan in subscriptions.

Mr. Yi Guojun, Director of Chongqing Municipal Construction Committee, delivered an important speech at the event site. He said that Chongqing, as the gateway for the country to create world-class city groups in the western region, and the vanguard of the development of western China, is on a rapid development track with its unique geography and resource advantages. As a result of a decade of development, Olympic Garden has already gained convenient rail transit, and introduced the affiliated middle school of Peking University, which demonstrates a perfect change from Athens-style houses to New Asia high-rise buildings. From the one-thousand-mu Okuyama villa area, including the pinnacle single-family Zunjuebao Housing Project II, to Changgu commercial street, to the 450,000 m² urban business complex Sunac Jin Mao Times North Area core CBD, Sunac has achieved a perfect metamorphosis from a garden to a world-class hillside garden city. It has played an indelible role in the development of Chongqing's New North District. In 2013, the completion of Sunac Olympic Garden marks that the large housing projects spawned from the urbanization wave of China's western development are gradually maturing, and new development priorities have started to switch from quantity to quality. The Chinese property market has entered a new development stage under the huge backdrop of urbanization.

Contact Person:

Zheng Sun
P: 18623085612
E: [email protected]

SOURCE Sunac Real Estate