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The Eighth Joy City to be Opened in Hangzhou Boasting Urban Complex and Commercial Properties with Combined Gross Floor Area of 500,000 Square Metres

Joy City Property Limited (“Joy City Property” or the “Company”, HKEx Code: 0207) is pleased to announce its plan to open the eighth Joy City in Hangzhou, marking another milestone of the Company’s strategic development in Yangtze River Delta. The urban complex and commercial property project will become a lifestyle hot spot for the Hangzhou residents.

Joy City’s “343” brand management system will be applied to the project so that brands which have already proven successful in other Joy Cities will be introduced to the one in Hangzhou. Hangzhou Joy City will replicate the Joy City brand’s unique architectural style, featuring Sky Walkways and an open atrium to project a “youthful, fashionable, trendy and quality” image of the brand, targeting the city’s middle-class customers aged between 18 and 35. The project will also adopt characteristics peculiar to Hangzhou’s culture while positioning itself as a mecca for the local trendy shoppers, introducing new brands into Hangzhou, Yangtze River Delta and even China.

Hangzhou Joy City comprises an urban complex and commercial properties with a combined gross floor area of 500,000 square metres. At the southern side of the project, a port will be built at the bank of the Grand Canal, which links Beijing with Hangzhou and is a United Nations Educational, Scientific and Cultural Organization (UNESCO) World Heritage Site. Consumers will be able to start a boat trip at the port to reach Wulinmen port and Xixi National Wetland Park directly, allowing them to enjoy shopping at Hangzhou Joy City and a boat tour of the park. In addition, Hangzhou Joy City will be the first of all the Joy Cities to launch an outdoor commercial district where all types of shops will be opened for business round the clock, and is thus likely to become the unique hot spot to attract hundreds of millions of tourists who tour Hangzhou.

In addition, the representatives of such renowned brands as I.T., ZARA, UNIQLO, China Film, Waipojia, Starbucks and the chief designer of BENOY from the United Kingdom have attended the inauguration of Hangzhou Joy City. The representatives of the commercial tenants stated that the long-term support from Joy City had helped their brands achieve rapid development. They said that the launch of Hangzhou Joy City would provide a broader platform for their brands, and they were looking forward to the cooperation with Joy City so that they would be able to grasp business opportunities by offering an extraordinary shopping experience to the residents of Hangzhou.

Mr. Zhou Zheng, Vice President of COFCO and Chairman of Joy City Property Limited said: “Hangzhou has always been of strategic importance to Joy City’s business plan. We hope that Hangzhou Joy City will not only become the lifestyle destination of the city but will also drive consumption and improve the shopping experience in the Hangzhou Bay area. Hangzhou Joy City aspires to be a dazzling pearl in the southern Yangtze River Delta and will work with Shanghai Joy City to reshape the commercial real estate sector in the region.”

July 9, 2015 PRNewswire

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