Feb 28, 2011
Press Release

Ying Li Achieves Overwhelming Response at Preview Sale of Yingli International Financial Center (“IFC”)

• Over 16,000 square meters (“sqm”) of Prime Office Units was taken up on preview sale at an Average Price of RMB 24,000psm
• Office Units recorded sales price of up to RMB 27,000 per sqm

Singapore Exchange (SGX) Mainboard listed Ying Li International Real Estate Limited (“Ying Li” or the “Company”, and together with its subsidiaries, the “Group”) announced today that it had sold 8 floors of office units during the preview sale of its IFC office units in Chongqing. Average selling price (“ASP”) of approximately RMB24,000per square metre (“sqm”) was achieved for the 16,000sqm gross floor area (“GFA”).

Commenting on the preview launch of the lower floor office units, Ying Li’s Chairman and Chief Executive Officer, Mr. Fang Ming, said, “While market uncertainties arising from the introduction of regulatory policies by the PRC central government have impacted sales volumes within the PRC residential sector, the positive market response during the preview sale stands testament to the strong support and confidence that investors place in Chongqing’s commercial real estate market which is less affected by government policies. This overwhelming response signals the Group’s ability to deliver quality developments and further reflects the Group’s brand equity as a leading prime commercial developer within Chongqing. Moving forward, we remain steadfast in our commitment to build internationally recognized landmark developments and will seek to consistently exceed the expectations of our discerning customers.”

Yingli IFC is the Group’s latest Grade A Prime Commercial development in the rapidly expanding Jiefangbei CBD of Chongqing. With a total development GFA of 173,500sqm, the subsequent phases of IFC will be progressively launched and will be expected to contribute significantly to the Group’s future development. The Group expects to sell approximately 20,000sqm of Office units with the remaining 71,500sqm to be held as investment properties for rental income. The development comprises 91,500sqm GFA of Grade A office space and a nine-floor retail mall of about 50,000sqm. Located in the heart of the Chongqing CBD, Yingli IFC is set to be a key commercial building that will house major international financial institutions, consulates and other multinational companies.

The IFC shopping mall is also positioned to benefit from the Jiefangbei pedestrian street, which is one of the top 10 pedestrian streets of China. The mall will be home to international renowned luxury brand boutiques, popular high street fashion, sport and lifestyle shops, entertainment, restaurant and cafes, with each floor dedicated to the needs of a wide variety of shoppers.

The Yingli IFC office tower is designed to enhance the corporate profile of its tenants. Visitors to the Yingli IFC office building will be greeted by a 10m high grand lobby with top quality design and finishing. Each office floor is created to contain large column free spaces with a floor-to-ceiling height of 4.2m/4.5m. With its state-of-the art design and green features, the Yingli IFC has obtained the LEED precertification Gold level award, making it the only commercial building to achieve such award in Chongqing’s CBD. The Yingli IFC was also named as one of the top ten landmark projects in Chongqing by the Chongqing Morning Post for the year of 2010.

Mr. Fang added, “Following the successful preview launch of this prime commercial project, we are confident of achieving higher ASPs for our subsequent launch of the higher floor units barring unforeseen circumstances. IFC will be the new benchmark for prime commercial buildings in the CBD area of Chongqing. The success of IFC will enhance the Group’s leadership position and reputation in Chongqing. We are confident that the project will contribute positively to the Group’s future performance.”