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Article: KERRY PROPERTIES PLANS CNY7.3BN INVESTMENT IN CHINA

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AsiaInfo Services
Article date:
July 25, 2008
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AsiaInfo Services
07-25-2008
Kerry Properties Plans CNY7.3bn Investment in China

TANGSHAN, Jul 25, 2008 (SinoCast via COMTEX) -- Hong Kong-listed Kerry Properties Limited accelerates investment in mainland China after selling its five mainland properties early in the year.

The company together with Shangri-La Hotels and Resorts, the world's leading Asia-based luxury hotel group, announced on July 22 that they would jointly develop a comprehensive real estate project in Tangshan city, Hebei province, with expected investment of CNY 7.3 billion. Each holds 40 percent and 20 percent of the project.

The co-investors also include Allgreen Properties Ltd. and Kuok Brothers Sdn., which accounts for ...

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