BEIJING and NEW YORK, June 6,
2011 /PRNewswire/ -- Kirin International Holding, Inc. (OTC
BB: KIRI, the "Company"), the largest private developer of
residential mixed-use properties in Xingtai, North China's oldest city, announced that it
has initiated discussions with the Mayor of Chengde for potential
development of a 6.6 million SF parcel in the prefecture-level city
of Hebei Province north east of
Beijing. "Kirin can be the
catalyst for further development in Chengde, building on its
existing distribution hub and close access to Beijing via rail and highway," said Kirin CEO
Mr. Longlin Hu. "We look forward to developing further plans with
the Mayor and his staff in Chengde, as Kirin continues its
strategic focus on adjacent target markets," commented Mr. Hu.
Chengde is best known as the site of the Mountain Resort, a vast
imperial garden city formerly used as the summer residence by the
Manchu Emperors of the Qing Dynasty. The urban center had a
population of approximately 450,000 as of 2009 and has the
largest prefecture land area of the entire Hebei Province., Chengde's economy is growing
rapidly, and the newly-built Jingcheng Expressway connects the city
directly to central Beijing, with
more freeways planned and the addition of high-speed rail
service, which will reduce the current 100-minute journey to
Beijing to only 40 minutes.
"Chengde has indicated that Kirin will enjoy preferential
treatment as a result of our U.S.-listed, international public
company status," said Mr. Hu. "We are working hard with the
U.S. listing to deliver value for shareholders and to differentiate
Kirin in China as we continue our
expansion outside our home market of Xingtai," the CEO
concluded.
CONTACTS:
Ms. Cindy Zheng, CFO, Kirin
International Holding, Inc.
cindyzheng@hotmail.com
+86 186 1025 7686
Mr. Dan McClory, Managing
Director, Hunter Wise Financial Group, LLC
dmcclory@hunterwise.com
+1 949 732 4102
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
This press release contains forward-looking statements made
under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. Forward looking statements are based
upon the current plans, estimates and projections of the Company's
management and are subject to risks and uncertainties, which could
cause actual results to differ from the forward looking
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Such statements include, among others, those concerning market
and industry segment growth and demand for the Company's
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conditions; geopolitical events and regulatory changes;
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SOURCE Kirin International Holding, Inc.