SouFun Established Headquarters in Shanghai and Signed an Agreement
to Acquire a Commercial Property for Its Shanghai Headquarters
BEIJING, Jan. 2, 2013 /PRNewswire/ -- SouFun Holdings
Limited (NYSE: SFUN; "SouFun"), the leading real estate
Internet portal in China, today
announced that it has formally established its Shanghai
Headquarters to support the expansion of its operations in
Shanghai and East China area,
which consists of 15 cities including Jiangsu Provincial Capital
Nanjing and Zhejiang Provincial Capital Hangzhou. At the same time,
SouFun announced that it has entered into an agreement to acquire a
portion of the BaoAn Building in Shanghai for its Shanghai Headquarters through
the acquisition of the entire equity interests in three companies
that own and operate the property from China BaoAn Group Co., Ltd.,
a Chinese company, and its affiliated companies, for RMB800 million (US$127.3
million) in cash. The property, located at 800 Dongfang
Road, Pudong, Shanghai, has usable
space of approximately 42,000 square meters and is currently used
for offices, retail space and a hotel, which will be converted into
office and training space to support SouFun's expansion in
Shanghai and East China area. The
acquisition is expected to be completed in the first quarter of
2013.
"Shanghai and East China area
houses China's most active
economic zones and have been contributing substantially to SouFun's
growth. We have been testing our operations in Shanghai and East China area for the past year
and the official establishment of our Shanghai Headquarters will
definitely boost our operations in that area." said Mr.
Vincent Mo, SouFun's Executive
Chairman. "The office space acquisition for our Shanghai
Headquarters shows SouFun's commitment to Shanghai and East China area and will support
Shanghai Headquarters' ever increasing need for office space."
About SouFun
SouFun operates the leading real estate Internet portal and a
leading home furnishing and improvement website in China in terms of the number of page views and
visitors to its website in 2012. SouFun has built a large and
active community of users who are attracted by the comprehensive
real estate and home furnishing and improvement content available
on its portal that forms the foundation of its service offerings.
SouFun currently maintains 106 offices to focus on local market
needs and its website and database contains real estate-related
content coverage of 314 cities in China. For more information about SouFun,
please visit http://ir.soufun.com.
Safe Harbor Statements
This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995.
These forward-looking statements can be identified by
terminology such as "will," "expects," "is expected to,"
"anticipates," "aim," "future," "intends," "plans," "believes,"
"are likely to," "estimates," "may," "should" and similar
expressions. Such forward-looking statements include, without
limitation, comments by management in this release about SouFun's
planned purchase and use of a property in Shanghai and about the Company's market
position and its website content and service offerings. SouFun may
also make forward-looking statements in its periodic reports to the
U.S. Securities and Exchange Commission, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about SouFun's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of important factors
could cause actual results to differ materially from those
contained in any forward-looking statement. Potential risks and
uncertainties include, but are not limited to, the closing of
the agreement for the acquisition of the Shanghai property, SouFun's limited operating
history, the current global financial and credit markets crisis and
its potential impact on the Chinese economy, measures taken or to
be taken by the Chinese government to control real estate growth
and prices and other events which could occur in the future,
challenges in China's real estate
market, the impact of competitive market conditions for SouFun's
services and its ability to maintain and increase its leadership in
China's home related internet
sector, the uncertain regulatory landscape in China, fluctuations in SouFun's quarterly
operating results, its ability to continue to expand in local
markets, its reliance on online advertising sales and listing
services for revenues, any failure to successfully develop and
expand its content, service offerings and features, including the
success of new features to meet evolving market needs, and the
technologies that support them, and, should SouFun in the future
makes acquisitions, any failure to successfully integrate acquired
businesses.
Further information regarding these and other risks and
uncertainties is included in SouFun's annual report on form 20-F
and other documents filed with the U.S. Securities and Exchange
Commission. SouFun does not assume any obligation to update any
forward-looking statements in this release and elsewhere, which
apply only as of the date of this press release.
For investor and media inquiries, please contact:
Dr. Hua Lei
IR Director
SouFun Holdings Limited
Tel: +86 (10) 5631 8661
E-mail: ir@soufun.com
SOURCE SouFun Holdings Limited