BEIJING, Dec. 15, 2017 /PRNewswire/ -- Xinyuan Real Estate
Co., Ltd. ("Xinyuan" or the "Company") (NYSE: XIN), an NYSE-listed
real estate developer and property manager primarily in
China and also in other countries,
is bolstering the project management team for its property
developments in New York with
support from a new joint venture for professional services.
Xinyuan is constantly making efforts to enhance its existing
development and project management capabilities in international
markets. With this in mind, Xinyuan's U.S. unit has entered into a
joint venture with Kuafu Properties. This venture, called Xin Fu
Development LLC, is majority owned by Xinyuan's U.S. unit. The
Xin Fu joint venture will complement and strengthen Xinyuan's
existing capabilities in New York
by supplying professional services and support related to
construction management and marketing.
Xinyuan was the first real estate developer from China to be listed on the New York Stock
Exchange in 2007. In 2012, Xinyuan was one of the first Chinese
real estate developers to enter the U.S. market, and over the past
several years it has been active in real estate development in New
York. The company now has three projects in three boroughs of
New York City.
Xinyuan remains owner of those projects, and will continue to
control overall project development, including investment,
construction, marketing and delivery, while Xin Fu will play a
supporting role. The combined team will take advantage of the
resources and expertise of both sides to deliver better projects
and services to our customers in the US market.
Xinyuan remains committed to its U.S. operations, and will remain
active in the New York market.
Xinyuan's Oosten Project in the Williamsburg section of
Brooklyn, New York, has 216 units
in total, and was fully completed in 2017. The project captured the
No.2 spot in Property Shark's ranking of the TOP-10 Best-selling
buildings in New York City in
2016, and took the No.5 spot of the same survey for the first
quarter of 2017. Xinyuan's second project in New York - Hudson
Garden - is located at 10th Ave, Midtown Manhattan, and
the construction work has already begun. Xinyuan will also continue
to move forward with its project in Queens, which was obtained in 2016.
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, Zhengzhou, Jinan, Xi'an,
Suzhou, among others. 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.
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 estimated financial performance and sales
performance and activity, 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; 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,
2016. 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. Joe Xu
Investor Relations Director
Tel: +86 (10) 8588-9376
Email: irteam@xyre.com
ICR, LLC
In U.S.: +1-646-308-1472
In China: +86 (10) 6583-7511
Email: William.zima@icrinc.com
Media:
Edmond Lococo
In China: +86 (10) 6583-7510
Email: Edmond.Lococo@icrinc.com
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SOURCE Xinyuan Real Estate Co., Ltd.