Yungang City Project

The Yungang City Project is located at the core area of Baiyun New Town, Baiyun District, Guangzhou City, the PRC. The land parcel of the project consists of three pieces of land (namely Land Plot Nos. AB2910004, AB2909009 and AB2909011) with an aggregate site area of approximately 116,471 sq. m. and a total GFA included in the calculation of the plot ratio of approximately 506,000 sq. m. It is intended to develop a large-scale integrated property project comprising residential, office buildings and commercial shops.
 
The Yungang City Project is located to the north of Yuncheng South Fourth Road and south of Qixin Road, and on the two sides of Yuncheng West Road, and is connected to major transport networks. It is adjacent to Baiyun Park Station of Guangzhou Metro Line 2 and trunk roads such as the Airport Expressway and the Baiyun Avenue, and it is only about 30 kilometres away from the Guangzhou Baiyun International Airport. In addition, as the Airport Avenue is expected to fully open within the year of 2022 while Guangzhou Metro Line 12 is expected to open in 2023, travel between the project and its surrounding areas will be more convenient in due course. The project is situated in a well-developed neighborhood where commercial shopping centres, schools, hospitals, parks and the Guangzhou Gymnasium are within a three-kilometre radius, and it is close to the scenic area of Baiyun Mountain. With the significant advantage of the project in terms of its location, environment, accessibility to transport network and the development of industries nearby, it has promising market prospects.

The project has adopted a model of development by phases. As at 31 December 2021, the properties of each phase of the project are carrying out the construction work of basement and earthwork excavation, and the overall project is expected to be filed for completion in 2025.

Properties Held for Sale under Development and Investment Properties under Development

Property project

Location

Use

Interest held by the Group

Approximate total site area
(sq. m.)

Approximate GFA*
(sq. m.)

Progress

Expected completion and filing date

Guangzhou Yungang City Project

Guangzhou City, the PRC

Residential/ Commercial

100%

114,463

506,000

Basement and earthwork excavation of each phase of the properties underway

2025


* Note: Including the project's common area and area transfer to the government.