Hong Kong developer New World Development’s China unit will invest US$732 million in Guangzhou urban renewal project

//Hong Kong developer New World Development’s China unit will invest US$732 million in Guangzhou urban renewal project

Hong Kong developer New World Development’s China unit will invest US$732 million in Guangzhou urban renewal project

New World China Land (NWC), the mainland Chinese property unit of Hong Kong developer New World Development, said it has secured the rights for an urban renewal project in the heart of Guangzhou.The project, which is expected to require an investment of HK$5.7 billion (US$732.3 million), will be NWC’s largest such undertaking in China. It will yield a total gross floor area of 7 million sq ft, or about around 650,000 square metres, the company said on Wednesday.NWC will develop the project with…

Article by [author-name] (c) Business - South China Morning Post - Read full story here.

By | 2021-08-25T12:15:29+00:00 August 25th, 2021|Business|Comments Off on Hong Kong developer New World Development’s China unit will invest US$732 million in Guangzhou urban renewal project