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Hong Kong, October 26, 2005 - With the vast opportunities
in the Yangtze Region, Shui On Land's strategy is to
leverage its expertise in the Chinese Mainland and develop
in metropolitan cities such as Shanghai and the rapidly
growing second-tier cities such as Wuhan and Chongqing.
"The fast economic development of the Yangtze Region
is narrowing the gap between first and second tier cities,"
said Mr Wilfred W Y Wong, Vice-Chairman and Chief Operating
Officer of Shui On Land. "Shui On Land is well
positioned to provide the quality developments increasingly
required throughout these cities, and to contribute
towards the enhancement and growth of communities there."
Mr Wong was addressing 200 industry professionals at
the Real Estate Investment Conference in Hong Kong today,
sharing his thoughts on the burgeoning Yangtze Region
and how property developers can harness the tremendous
potential there.
Stretching west from Shanghai along the 3,900-mile Yangtze
River, the region's impressive statistics illustrate
its potential to become an economic powerhouse in the
Chinese Mainland. The region represents 46% of China's
GDP and 50% of China's population while the growth in
foreign direct investment in Chongqing (30.2%) and Wuhan
(20.6%) have been most impressive.
According to Mr Wong, there are three key drivers of
opportunity in the Yangtze Region: geography, people
and government. It is strategically situated for good
logistic and transportation arrangements, abundant supply
of natural and human resources, making it a desirable
location for property developers. The growing population
and the rapid pace of development will fuel demand for
residential and commercial facilities. The government's
support for infrastructure projects is also encouraging
and facilitating development throughout the region.
Mr Wong acknowledged that the second tier cities are
not without its share of challenges including more government
bureaucratic hurdles, infrastructural constraints and
lower purchasing power; however, he emphasized that
he believes the benefits far outweigh these challenges,
as evidenced by Shui On Land's expansion strategy in
the region.
Shui On Land's property developments in the region include
Chongqing Tiandi, a city core redevelopment project
positioned as a centre for supporting and servicing
Chongqing's manufacturing industries covering a total
gross floor area of approximately 2.6 million sq.m.
In Wuhan, the company is developing a mixed-use development
comprising residential, office, hotel, retail/F&B
and entertainment facilities, covering a gross floor
area of approximately 1.5 million sq.m.
"Focusing first on the Yangtze Region is a fundamental
part of our development strategy at Shui On Land,"
said Mr Wong. "We believe in the region's vast
potential and we are firmly committed to help realize
it."
About Shui On Land
Established in 2004 and headquartered in Shanghai, Shui
On Land Limited is a substantial property company consolidating
prime developments of the Shui On Group in the Chinese
Mainland. With a proven track record in the Chinese
Mainland and Hong Kong, the Shui On Group is well established
as one of China's visionary and innovative property
developers. Backed by a prestigious group of co-investors,
which includes ERGO Tru Asia, Metro Holdings, Citigroup
Venture Capital International, Ocean Equity Holdings,
Value Partners Funds, Standard Chartered Bank, Shanghai
Hotel Investments and Jebsen & Company, Shui On
Land leverages the Group's proven track record to provide
high-quality growth opportunities.
Shui On Land's projects feature unique commercial, residential
and mixed-use developments. The Company focuses on two
key business segments in the Chinese Mainland market:
City Core Development Projects, which are large-scale,
mixed-use redevelopments, and Integrated Residential
Development Projects, which are high-quality developments
offering full amenities and consistent with overall
city infrastructure planning. For further information,
please visit www.shuionland.com.
Media
Contact
Stephanie Lin
Tel:
(852) 2879 1866
Fax: (852) 2787 4211
Email: corpcomm@shuion.com.hk
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