Xinyuan Real Estate (XIN) Purchases Land Parcel in Xuzhou, east China's Jiangsu Province

Xinyuan Real Estate Co., Ltd. (NYSE: XIN) today announced that it has acquired a parcel of land in Xuzhou, east China's Jiangsu Province. Xinyuan paid a total of RMB235 million (approximately US$37 million) for the land use rights for the parcel, which is located in Xuzhou and offers a total site area of approximately 45,000 square meters. The Company intends to develop high rise residential apartments for a total estimated gross floor area ("GFA") of approximately 119,000 square meters. The average apartment unit size will range between 70-130 square meters.

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