Mhome Wins Bid for Prime Land Parcel in Huangshi, Marking the Start of a New Urban Layout in Wuhan

HUANGSHI, China, Sept. 22, 2020 /PRNewswire/ -- Mhome Group (000667.sz) ("the company"), a top Chinese real estate developer headquartered in Wuhan, Hubei Province, has won a bid for prime land parcel WG (2020) No.15 in the city of Huangshi, for a total of 223.28 million yuan (US$ 32.950 million). This is the company's fifth land parcel acquired in 2020 and heralds the beginning of Mhome's "8+1 Urban Circle" layout strategy in the city.

The WG (2020) No.15 land parcel is a residential plot with an area of 11.53 acres (46,666 square meters), a plot ratio of 2.05 and a capacity area estimated at 23.57 acres (95,400 square meters). The Huangshi city centre land parcel will be the city's first A-grade prefabricated construction project, with a prefabricated construction rate above 60 percent. This is in line with the company's strategy in the second half of 2020 and will be a groundbreaking endeavour.

In the project development phase, Mhome will implement an upfront technical strategy across multiple departments, including positioning, design and communication; bringing partners and clients closer for greater efficiency. Mhome's Jiangxia Intelligent Housing Manufacturing Base will supply high-quality precast concrete units for the project.

"We prioritize cost, quality and efficiency with the current highly competitive market by choosing the right plot of land in the right place at the right time, targeting the best planning in terms of housing construction, greening and supporting facilities. The ultimate goal of Mhome is to provide better, cheaper housing for people through an established value chain system and housing solution," said Mr. Liu Daoming, Chairman of Mhome Group.

As of June 30, 2020, the total assets of Mhome amounted to 27.913 billion yuan (US$ 4.119 billion). The developer has an accumulated land reserve of 1.1133 million square meters, a total gross floor area of 1.6495 million square meters and a remaining gross floor area of 1.4678 million square meters for future development.

Currently, the total area of Mhome's ongoing projects is 1.0678 million square meters. Its total planned gross floor area is 2.7181 million square meters and a cumulative completed area of 830,000 square meters.

Mhome's projects currently on sale total 2.0127 million square meters with a cumulative settlement area of 1.1091 million square meters.

About Huangshi

Huangshi was one of two initial provincial municipals established in Hubei Province. This sub-central city of Wuhan, the capital city of Hubei, has a profound industrial culture and solid industrial foundation. Huangshi has been named one of the top 100 cities in China since 2006.

About Mhome Group

Established in 1989, Mhome Group (000667.sz) is a developer of residential and urban homes properties and provider of urban and rural construction services. Headquartered in Wuhan, China, Mhome is now a listed company with a prominent presence in multiple industries including smart housing manufacturing, modern agriculture, and industrial revitalization of small towns.