XI'AN, China, Dec. 2, 2010 /PRNewswire-Asia-FirstCall/ -- China Housing & Land Development, Inc., ("China Housing" or the "Company," Nasdaq: CHLN) today announced that the Company has signed an Extended Cooperation Agreement ("Agreement") with the Xi'an Baqiao District Government to extend its cooperation agreement to exclusively develop 487 acres of land in the Baqiao area for another five years expiring in June 2016.
According to the Company's extended cooperation agreement with the Baqiao District Government, at the beginning of each year, the Company will prepare its annual development project work plan related to the Company's exclusive 487 acres within the Baqiao area and have it approved by the Baqiao District Government. The annual work plan will include the detailed projects that will be started during that year, and the Baqiao District Government is responsible for the land clearance.
Mr. Pingji Lu, Chairman of China Housing commented, "We are delighted to be extending our cooperation agreement with the local district government in Xi'an. This agreement further clarifies our development strategy and allows us to move forward with both our Puhua and Golden Bay projects in a timely fashion. With 389 acres of land that are still undeveloped, this agreement also allows us to plan for additional projects within our exclusive area. We are pleased to maintain solid relations with the local government who continues to be a strong supporter of the continued development of the Baqiao area."
About China Housing & Land Development, Inc.
Based in Xi'an, the capital city of China's Shaanxi province, China Housing & Land Development, Inc., is a leading developer of residential and commercial properties in northwest China. China Housing has been engaged in land acquisition, development, and management, including the sales of residential and commercial real estate properties through its wholly-owned subsidiary in China, since 1992.
China Housing & Land Development is the first and only Chinese real estate development company traded on NASDAQ. The Company's news releases, project information, photographs, and more are available on the internet at www.chldinc.com.
Safe Harbor Statement
This news release may contain forward-looking information about China Housing & Land Development, Inc. which is covered under the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as believe, expect, may, will, should, project, plan, seek, intend, or anticipate or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and China Housing & Land Development's future performance, operations, and products.
Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Actual performance results may vary significantly from expectations and projections. Further information regarding this and other risk factors are contained in China Housing's public filings with the U.S. Securities and Exchange Commission. All information provided in this news release and in any attachments are as of the date of the release, and the companies do not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
China Housing contacts
Mr. Cangsang Huang Chief Financial Officer +86 29 8258 2648 in Xi'an firstname.lastname@example.org
Ms. Jing Lu Chief Operating Officer, Board Secretary, and Investor Relations Officer +86 29.8258.2639 in Xi'an email@example.com
Mr. Shuai Luo Investor Relations +86 29.8258.2632 in Xi'an firstname.lastname@example.org
Mr. Bill Zima, ICR +1 203.682.8233 William.Zima@icrinc.com
Ms. Annie Chen, ICR +86 10.6599.7966 Annie.Chen@icrinc.com
SOURCE China Housing & Land Development, Inc.