Sun Hung Kai Properties Limited, Wharf (Holdings) Limited and Henderson Land Development Co., Ltd. jointly announced that they plan to develop a comprehensive, large-scale housing and commercial property project in streets located on the east side of Chengdu City, Sichuan Provice. Sun Huang Kai will invest RMB 1.83 bln in the project, accounting for a 40% stake, of which two other parties will invest RMB 1.38 bln each, splitting the remaining 60% stake.

The project has a designated construction area of over 13 mln sq. feet, which includes a 280-meter high skyscraper comparable to the International Financial Center in Hongkong. The project will also include a five-star hotel, an upscale shopping centre and residential units.


Source: Shanghai Securities News

Date: 15 Jul 2008

CN01/BG/RZ/BT/KM