RE IV Limited presents updated valuation and sales figures
Hong Kong 15 June 2020: RE IV Limited (the "Company") has today received an updated third-party valuation in respect of its property portfolio from CBRE. The value of the Company’s property portfolio has continued to increase at a stable pace and, as of May 31, 2020, amounted to CNY 3,945.8 million in total, implying a 14 per cent value growth compared to book value.
During the period January – May 2020, the Company has sold 435 units with total contractual sales amounting to CNY 503 million in the two projects that it currently has for sale, the Hammarby Eco City Project (site A-2) and the Fushan Nordic Park Project, thereby achieving its midyear sales target for 2020.
For additional information regarding the CBRE portfolio valuation and our recent sales performance, please refer to the presentation that can be found attached to this press release as well as on our website: http://www.wprei.com/en-US/investor.
This information is information that RE IV Limited is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 15 June 2020.
For further information, please contact:
Karen Xu, Head of Investor Relations
Tel: +86 158 2156 4358
About White Peak
White Peak is a residential developer benefiting from the continuous and rapid urbanisation in China, targeting the growing middle-income class in underserved large cities (population of 5-10 million). Limited partners of the Fund are some of the largest Swedish national pension funds. The company has a full in-house development platform and 360 employees. White Peak is headquartered in Beijing and has a main focus on residential development in the Shandong, Hebei and Liaoning Provinces (with a total population of c. 250 million).