A premium site in the coastal area of Xiamen City, Fujian, is being developed by the Shimao Group into a landmark project in the city.

     The site is located at Xiagang Road, Siming District, with Xiamen University on the east and Gulang Yu to the west. Wanshishan Botanical Garden is to its north and the coast on the south. The project is in close proximity to the business district in Zhongshan Road and is about 12 km from the Xiamen Gaoqi International Airport.

     With a site area of approximately 30,000 sq m and a planned aggregate GFA of about 270,000 sq m, the project will be developed into two high-rise buildings with a height of over 240 m, comprising office, SOHO, five-star hotel and commercial facilities.

     The land was acquired by Shimao Group in October 2009 at a consideration of RMB709 million yuan. This represents another major acquisition of premium site by the group in Xiamen following the acquisition of the Lakeside Reservoir Area site in June 2009.