BEIJING, March 21, 2018 /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 that it has acquired, from ED
Jersey Limited, a 100% owned subsidiary of ED Group Holding Limited
("ED Group"), 50% equity stake in Madison Developments Limited
("MDL"), the developer of the Madison Project at Marsh Wall,
London E14 9YT, via Xinyuan's 100%
subsidiary Xinyuan International (HK) Property Investment Co.,
Limited for a total consideration of GBP
29.11 million.
The Madison Project site extends to 0.38 hectares (or
approximately 0.94 acres) and is located adjacent to Canary Wharf,
one of Europe's largest commercial
centres. The planning permission was granted in March 2015 for the site to develop a 53 story
building comprised of 423 residential apartments, including 319
private apartments and 104 affordable apartments, with
approximately 425 sq. meters of community facilities. Construction
is currently underway and its project completion is expected for
the third quarter 2020. To date, approximately 40% of the private
apartments have been pre-sold and 100% of the affordable apartments
have been pre-sold.
Mr. Yong Zhang, Xinyuan's
Chairman, commented, "We are pleased to announce this equity
investment in MDL. This is our first step in the UK real estate
market and an important milestone for Xinyuan's international
expansion strategy. While China
remains our core market, we would like to take advantage of our
experience in overseas investment and join hands with competitive
local partners, and are confident that our investment in MDL will
generate favorable returns for our shareholders."
Mr. Gordon Crawford, Chairman of
ED Group, commented. "We are pleased to welcome Xinyuan Real Estate
as our partner in this project. The Madison is set to be a landmark
building in Canary Wharf, a location we believe will benefit over
the coming years, especially upon the arrival of Crossrail later
this year. We look forward to working with Xinyuan on their debut
investment in the UK to establish a successful, long term
partnership."
About Xinyuan Real Estate Co., Ltd.
Xinyuan Real Estate Co., Ltd. ("Xinyuan") is an NYSE-listed real
estate developer and property manager operating primarily in
China and also in other countries.
In China, the Company 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,
and Suzhou. 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. The Company 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 Madison Developments Limited
Madison Developments Limited is a subsidiary of ED Group Holding
Limited, a privately owned Jersey-based investment company with
investments in real estate, technology and financial services in
the UK, Europe and North
America. The project is being managed by LBS Properties, a
property development and investment management company specialising
in the residential and commercial sectors of the London market.
For more information, please contact:
Xinyuan Real Estate Co., Ltd.
Mr. Joe Xu
Investor Relations Director
Tel: +86 (10) 8588-9376
Email: irteam@xyre.com
ICR, LLC
Investors:
William Zima
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.