CHIWAYLAND: Rides New South Wales decade of decentralisation

Chiwayland handed over its first Australian real estate development project in 1Q2016. Located in Brisbane, the Vivir has 54 residential units and one commercial unit and is already 93% sold. Artist's impression

CHIWAYLAND recently received endorsement from the city council of Parramatta, New South Wales to more than double the floor space ratio of its development in the city centre.

The Group expects to receive final approval from the state government to sharply increase the floor space ratio of its Bluesky @ Parramatta project from 4.1 to 11.5 by November 2016.

The Bluesky project is benefiting from a policy known as ‘decade of decentralisation’ to move a whopping 100,000 square metres of government office space from downtown Sydney to regional centres by 2021.

This translates into office acreage equivalent to more than 14 football fields.

Prime location in up and coming suburb

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Parramatta is a suburb in Greater Western Sydney, 23 kilometres west of the Sydney central business district. The second largest business district in the state of New South Wales, Parramatta has been earmarked for the relocation of public service offices from Sydney CBD on the east coast of New South Wales to Western Sydney.

Since 2014, the government has announced the relocation of more than 4,200 public service roles from Sydney CBD to Western Sydney, including more than 1,800 jobs to Parramatta.

The policy has boosted Parramatta’s economy: Coupled with a low interest rate environment, Parramatta housing prices have jumped 76% in the past five years and office building vacancy is the healthiest in Australia at 4.5%.

Bluesky will be built with a height of 138 meters. It is located in the core area of Parramatta CBD, 200 meters away from the local park, 400 meters from the Parramatta train transportation junction, 500 meters from retail centers at Westfield and Chinatown, and only 600 meters from the public primary school.

The Group has a 75% stake in the Bluesky project and expects to complete it in 2019.

♦ Globalisation Plan

In 2014, Chiwayland forayed into Australia’s property market where it now has 6 projects (two in Brisbane and four in Sydney). Pre-sales activities have been strong and over 80% of launched projects have been sold.

“We are targeting revenue contribution from projects outside China to reach 50% in the next five years.”

- Qian Jian Rong
Executive Chairman

In 2016, it forayed into the U.S. market with a mixed development project in Los Angeles, California - Urban Commons, LLC, comprising of retail, hotel and residential units.

In China, the Group’s properties can be found in major cities along Yangtze River Delta Region, including Shanghai, Suzhou and Nanjing.

It has 11 PRC property developments with total gross floor area of over 2 million square metres, and is a Top 100 Real Estate Development Enterprise in China.

The Group is seeking shareholders approval to expand in North America, Western Europe and Asia at its EGM to be convened in August 2016.

To boost shareholder return, the management is also seeking shareholders approval for a share buyback program to purchase up to 10% of its shares.

CHIWAYLAND: Rides New South Wales decade of decentralisation

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