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Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Hong Kong
Securities Clearing Company Limited take no responsibility for the contents of this announcement, make no
representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss
howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
China New Town Development Company Limited
中國新 城鎮發展有限 公司
(incorporated as a business company limited by shares under the laws of the British Virgin Islands)
Hong Kong Stock Code: 1278
Singapore Stock Code: D4N.si
COMPLETION OF LAND AUCTION UNDER WUXI PROJECT
The Board of Directors (the “Board”) of China New Town Development Company Limited
(the “Company”) is pleased to announce the completion of auction of land use rights of the
residential land parcel (XDG(XQ)-2010-25) located at our Wuxi New Town (“Wuxi Project”)
by Wuxi Municipal Bureau of Land and Resources on 27 December 2010. The buyer is Wuxi
Chongqing Development Company Limited ( 無錫 仲慶房地產開發有限公司).
The land parcel of approximately 127,637 sq.m. in site area was sold at RMB382 million
which is equivalent to approximately RMB2,994 per sq.m of site area. The last achieved
price for a residential land parcel from Wuxi Project was approximately RMB2,038 per sq.m
of site area in February 2010.
The Company first undertook the development of the Wuxi Hongshan Project in 2007,
through a joint venture (“JV”) agreement with Wuxi New District Municipal Investment and
Development Company Limited (“Wuxi JV Partner”). Under the agreement, a JV company –
Wuxi Hongshan New Town Development Co., Ltd (“Wuxi JV Company”) was established to
undertake the development of the new town project. The Company holds 90% stake in the
Wuxi JV Company, while the Wuxi JV Partner holds the remaining 10%. The JV is for a
period of 50 years.
None of the Directors of the Company has any interest, direct or indirect, in the sales of the
Land.
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By order of the Board
China New Town Development Company Limited
Shi Jian
Chairman
Hong Kong, 28 December 2010
As at the date of this announcement, the executive Directors are Mr. Shi Jian (Chairman), Mr.
Li Yao Min, Ms. Gu Biya, Ms. Song Yiqing, Mr. Mao Yiping, Mr. Yang Yonggang and Mr.
Shi Janson Bing, the non-independent non-executive Director is Mr. Yue Wai Leung Stan,
and the independent non-executive Directors are Mr. Henry Tan Song Kok, Mr. Loh Weng
Whye, Mr. Lam Bing Lun Philip and Mr. Kong Siu Chee.
