First Real Estate Project Purchased by Large State-Owned Financial Institution in Non-First-Tier City in 2018

China Life Investment Holdings, the professional investment platform of the China Life Insurance Group, chose to enter Xi'an following projects in Beijing, Shanghai, Suzhou, and Dalian. The successful transaction of the China Life Financial Center (formerly Building A of the Hesheng Jingguang Center) demonstrated China Life's determination in applying finance to support the real estate economy and its confidence and expectations towards the Xi'an market. The project is situated beside the main road to the east of Tangyan Road in the Western High-Tech District, providing an outstanding location and convenient transportation. It is the core area in the buffer zone between the first and second high-tech phases, and the Tangyan Road CBD where Xi'an China Life Financial Center is located owns mature supporting facilities and strong resources. It has huge development potential and can be regarded as a hidden gem of the Xi'an financial industry.

JLL began to pay attention to the Xi'an market long ago and was well aware of its huge potential. Since 2016, when Xi’an’s investment market environment and development speed were underestimated by investment institutions, we made a prediction regarding the future development of the city’s market through conducting numerous market analyses and research pieces. From 2017 to 2018, the recovery of the Xi'an market confirmed our professional prediction and analysis, seen through the positive trend in large-scale transactions done by JLL's Xi'an Capital Markets department. In addition, against the background of changes in the local market and the explosive policy dividend release in 2017, we took on a pioneering role in boosting large-scale state-owned financial institutions’ investment transactions in Xi’an. The China Life case is one such example where JLL’s work acted as a model for the market. At the same time, the success of this transaction has enhanced the developer's confidence in their property holdings, which will promote the quality improvement of future buildings and the professionalization of project property management. The overall image of commercial properties in Xi’an was altered through China Life’s investment purchase in Xi’an, facilitated by JLL’s detailed research and excellent service. This enabled the investment institution to understand Xi’an’s office investment market in a faster and comprehensive way, eventually leading to a win-win for both buyers and sellers.