To Strengthen the Position of its Flagship Brand "Joy City"
Hong Kong, Jan 20, 2015 - (ACN Newswire) - COFCO Land Holdings Limited ("COFCO Land Holdings" or the "Company," stock code: HK.00207), a large commercial property developer and operator specializing in the development, operation, sales, leasing and management of complexes and commercial properties in China, has changed its company name to "Joy City Property Limited". The English stock short names of the Company were also changed to "JOY CITY PPT" in English respectively, with effect from 19 January 2015. The stock code of the Company remains unchanged as "207." The website of the Company was also changed from www.cofcolandholdings.com to www.joy-cityproperty.com to incorporate the company name change. The old website www.cofcolandholdings.com is still operational during a reasonable transition period. The concept of "Joy City" was inspired by the aphorism "If the neighbors are happy, people from far away will be attracted" in the Analects of Confucius. Targeting emerging middle class consumers between 18 to 35 years old, the Joy City projects feature the brand personality of young, modern, stylish and tasteful. These integrated urban complexes are principally designed for shopping, but also offer residential apartments, office buildings and hotels, providing a full-service facility. Joy City's position "young, modern, stylish and tasteful" has already been accepted by consumers and the "Joy City" brand has also become one of the most valuable brands in China's commercial property market.
The Company currently focuses on developing and managing the "Joy City" brand, and owns seven property complexes including Beijing Xidan Joy City, Shenyang Joy City, Beijing Chaoyang Joy City, Shanghai Joy City, Tianjin Joy City, Yantai Joy City and Chengdu Joy City, as well as other commercial properties. The change of company name to "Joy City Property" more clearly reflects its main business and assets portfolio, further reinforces the flagship brand of "Joy City," demonstrates the Group's clear position in developing urban complexes and other commercial properties and consolidates its leading presence in the industry. At the same time it is intended to help generate stable and more sustainable returns for the Company and its shareholders.
About Joy City Property
Joy City Property (formally known as COFCO Land Holdings) is a large-scale commercial property developer and operator, focusing on development, operation, sales, leasing and management of mixed-use complexes and commercial properties. It is also the only commercial property company and an overseas-listed property business platform under COFCO Corporation, a Global Top 500 enterprise. Under its flagship brand "Joy City", focusing on the development of mixed-use complexes in first- and second-tier cities and following the two-wheel-driven strategy of "holding plus selling" to build a high quality business portfolio, the Group intends to maintain a balanced cash flow and establish sustainable business operations. The Group has developed and currently possesses 21 property projects in Beijing, Shanghai, Sanya, Chengdu, Tianjin, Shenyang and Hong Kong. The projects span a range of business segments and are located in premium core areas of first- and second-tier cities in China with good investment and appreciation potential.
Source: Joy City Property
Contact:
Strategic Financial Relations (China) Limited Ms Nan Dong Tel: (852) 2864 4811 E-mail: nan.dong@sprg.com.hk Ms Ada Leung Tel: (852) 2114 4967 E-mail: ada.leung@sprg.com.hk
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