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HKC (Holdings) Acquires Land in Prime Location in Shenyang for High-end Residential and Commercial Development
HONG KONG, September 5 /PRNewswire/ --
HKC (Holdings) Limited ("HKC (HOLDINGS)" or the "Group") (SEHK: 190)
announced that the Shenyang Land Exchange has accepted a bid from the Group
for a plot of land for approximately RMB746 million (about HK$768 million) on
3 September 2007. The acquisition will be financed from the Group's internal
resources and is part of the Group's previously announced plans to
significantly increase the size of its landbank given its new strategic
partnership with Cerberus.
In Heping District in Shenyang, the PRC, the site concerned has an area
of about 67,786 sq. m. The Group plans to use the land for residential and
commercial development.
Shenyang is the economic, cultural, communication, trade and commercial
hub of the Northeastern region of China. It is also a major industrial and
cultural city with historical importance. Shenyang is located at the centre
of the Northeast Asian economic ring, encompassing China, Korea, and Japan,
and is also at the centre of the Bohai economic ring.
The city has been growing rapidly, with GDP rising about 16.5% year on
year in 2006, and personal incomes rising 15.4%. With Shenyang's economy
continuing to expand, HKC (HOLDINGS) expects the property market to continue
to strengthen over the near and long term.
Mr. Eric Oei, Managing Director and Chief Executive Officer of HKC
(HOLDINGS), said "HKC (HOLDINGS)'s acquisition is at a prime site adjacent to
'Nan Hu Gong Yuan' at downtown of Shenyang, one of Shenyang's most scenic
areas, and will offer buyers excellent views of the park and a beautiful
lake. The acquisition of this land at reasonable prices reflects the strength
of HKC (HOLDINGS)'s land acquisition team. Given its strengthened capital
base, HKC (HOLDINGS) will continue to negotiate for quality land sites in
other prime locations."
About HKC (Holdings) Limited (stock code: 190)
HKC (Holdings) Limited is principally engaged in property development and
investment activities with a primary focus in the PRC. It is also one of the
leading providers of alternative energy in the PRC.
For more information, please visit the Group's website:
http://www.hkcholdings.com.
Web site: http://www.hkcholdings.com
