Weifang, People’s Republic of China, 29 March 2010
The Board of Directors of Euro Asia Premier Real Estate Company Limited (“Euro Asia” or “The Company”), a Chinese real estate developer, today announced its intention to go public in Germany in the first half of 2010. In combination with the proposed listing on the Entry Standard segment of Deutsche Boerse AG, the Company plans a an increase of the authorised capital to provide further funds for project development purposes.
Euro Asia is a developer of real estate projects, predominantly active in the city of Weifang in the Shandong province of the People’s Republic of China. Chairman of the Board, Mr Sun XiYi, stated, “Euro Asia follows a niche strategy in which we focus on projects in a region, that has a strong and sustainable growth potential. We furthermore focus on projects with existing demand, predominantly through government led urban renewal projects, which ensures a short time to market.”
Shandong, with around 94 million people, is the second largest economy in China and was in 2008 only the second region to achieve a GDP growth rate in excess of 12%. The Shandong region is considered to be China’s bread basket, which ensures strong economic activity. Weifang has around 8.9 million inhabitants and is an upper prefecture-level city. In addition to being a supply center for the agribusiness in Shandong, the Weifang region has a strong presence in industrial production. Furthermore, its location near South Korea and Japan makes it an important logistics hub and therefore possesses excellent express way and railway connections, a class I port, as well as an Airport that is one of the four airmail processing centers of China.
Euro Asia currently holds a number of properties and has a project portfolio, acquired through its JV partner SNI. With limited debt and existing revenues, management believes the Company is in an excellent position to benefit from the strong growth in demand for both commercial and residential property in the region, a development supported by government policy. In addition to existing demand and organic growth of the economy, an important driver for the real estate market will be the relaxation of urbanization legislation, facilitating migration to prefecture-level cities such as Weifang.
About Euro Asia
Euro Asia is a BVI registered company, active in real estate development in the Shandong area of the People’s Republic of China. The Company operates locally through its subsidiaries, jointly owned with SNI, Generating leasing revenues from a number of commercial properties, the Company has a number of other projects under development. By utilizing its strong local network to banks, political decision makers, land owners and other developers, the Company intends to grow its position in the region prior to moving into other prefecture-level cities cities.
This document is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933 (as amended). Euro Asia does not intend to register any part of the under the U.S. Securities Act of 1933, as amended, and the Shares are not being offered and will not be offered or sold in the United States of America.