Logan Continues Expansion Across Yangtze River Delta Metropolitan Area, Acquiring Large-Scale, High-Quality Land in Shanghai

Logan Group (3380.HK) successfully acquired 209 acres of high-quality land in the Shanghai Lingang Pilot Free Trade Zone at a total price of RMB4.305 billion on January 29. At present, a section of the land parcel comprises a prospective high-end shopping mall, and the land is the Company's second high-value project in Shanghai, marking Logan’s continued expansion across the Yangtze River Delta metropolitan area and the steady acceleration of its national strategic layout plan.

The land parcel, located in the core area of Lingang Free Trade Zone, close to the planned Lianggang Express Line (两港快线), is in a prime location. The Lingang Pilot Free Trade Zone is a national-level free trade zone and an important strategic growth engine for the future of Shanghai. The node city on the coastal development corridor is the main area where Shanghai will build a technological innovation center with global impact. In the future, Lingang will be built into a "Binhai Future City" to develop deep integration of industry and the city, ecological environment, smart living, and marine life. Lingang is expected to be the next Pudong by 2035. The massive potential in industrial scale and development has brought huge investment opportunities, with Tesla and other Fortune 500 companies setting up business in the area.

Logan Group expanded its footprint in the Yangtze River Delta in 2018. After the acquisition of land at Shanghai Lingang Pilot Free Trade Zone, the Company now has successfully obtained 18 high-quality projects in the Yangtze River Delta region. Logan is optimistic about the long-term prospects of the region, and will continue to invest in more valuable plots of land in the region in the future.