SHUI ON LAND LIMITED
Press Release
Shui On Land to Form a JV with Middle East Institutional Investor to Capture New Knowledge Community Opportunities in China
(28 November 2014, Hong Kong) Shui On Land Limited ("Shui On Land" or the "Company", Stock Code: 272) announced today that it has entered into a framework agreement with an institutional investor based in the Middle East (the "Middle East Investor") to form a US$600 million (approximately HK$4,650 million) joint venture, Shui On KC Investment Partnership, to develop, own, and operate mixed-use knowledge community projects in strategic locations in China.
The joint venture will have an eight-year term, with up to two one-year extensions subject to investor approval. Capital contributions will be made by the Company and the Middle East Investor when a specific project has been identified and the relevant vehicle holding that project established.
Shui On KC Investment Partnership will be the platform through which the Company will invest in new knowledge community projects. Knowledge communities are mid-size, mixed-use projects located in areas characterised by a high concentration of universities, high-tech parks and/or research and development parks.
Mr. Vincent H. S. Lo, Chairman of Shui On Land, said: "I am pleased to announce the formation of the Shui On KC Investment Partnership. This platform will enable us to better capture attractive investment opportunities in knowledge community projects in China. Establishing this strategic partnership with the Middle East-based institutional investor will also broaden the Company's exposure to global institutional investors with diversified sources of capital and investment horizon".
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*M3 Capital Partners (HK) Limited served as the exclusive financial advisor to Shui On Land in connection with the formation of KC Investment Partners.
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About Shui On Land
Headquartered in Shanghai, Shui On Land (Stock Code: 272) is the flagship property
development company of the Shui On Group in the Chinese Mainland with a proven track record in developing large-scale, mixed-use city-core communities and integrated residential development projects. The Company has eight projects in various stages of development in prime locations of major cities, with a land bank of 12.5 million sq.m. (10.3 million sq.m. of leasable and saleable GFA, and 2.2 million sq.m. of clubhouses, car parking spaces and other facilities). The Company was listed on the Hong Kong Stock Exchange on October 4, 2006, the largest Chinese real estate enterprise listed that year. Shui On Land was included in the 200-Stock Hang Seng Composite Index Series and Hang Seng Free float Index Series in March 2007.
For further information about Shui On Land, please visit our website www.shuionland.com
For media enquiries, please contact:
Shui On Land Limited
Hong Kong Mainland
Ms. Evan Hung Ms. Jessica Lu
Tel: (852) 2879 1866 Tel: (86 21) 6386 1818
Email: corpcomm@shuion.com.hk Email: cc-sh@shuion.com.cn
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