Guangzhou Lihe Real Estate Development Co., Ltd.

Guangzhou Asian Games Town Project
In December 2009, R&F, Agile, and Country Garden jointly won the bid for the Guangzhou Asian Games Town project with a total price of 25.5 billion yuan, which caused a sensation in the industry and created a miracle in the land parcel and total price in China's land auction history. Subsequently, Shimao Property issued an announcement announcing that it would join the Guangzhou Asian Games Town project together with CITIC Real Estate. On February 5, 2010, Guangzhou Lihe Real Estate Development Co., Ltd. was established, bringing together the elite forces of five leading enterprises in China's real estate industry. The Asian Games Town project has gone through more than ten years, and its equity has undergone several adjustments. Since the beginning of 2022, China State Construction Engineering Corporation (CSCEC) has become the largest shareholder of the Guangzhou Asian Games Town project and fully manages the project.
Guangzhou Asian Games Town is a super-large comprehensive community covering an area of 2.73 square kilometers and a total construction area of about 5 million square meters, equivalent to 4 Beijing Olympic Villages or 8 Beijing Asian Games Villages. The Asian Games Town is divided into the Athletes' Village, Media Village, Technical Officials' Village, Media Center, Stadium Area, Asian Games Park (including beach volleyball courts), and Logistics Service Area (primary and secondary schools and hospitals of the Asian Games Town), etc., including multiple sub-projects such as the comprehensive gymnasium, beach volleyball court, and main media center. The entire project strives to create a model residential area with harmonious landscapes and ecological livability, aiming to promote the development of Guangzhou New City through the construction of the Asian Games Town.