The board of directors of Yuexiu Property Company Limited announced that, the company acquired four parcels of land located at Lin' an, Hangzhou, Zhejiang Province with a total site area of approximately 161,597 sq.m. and a total permissible gross floor area of approximately 292,678 sq.m. by way of open tender through its 100%-owned subsidiary for a total consideration of RMB 339,360,000. The average land cost amounted to approximately RMB 1,160 per sq.m.