HONG KONG, March 30, 2011 /PRNewswire-Asia/ -- Management of Hengli Properties Development (Group) Limited (the "Company" or "Hengli", stock code: 169) attended the commence ceremony "Fuzhou Investments Reception and Key Projects Signing Ceremony" today and signed an Investment Agreement with Fuzhou City Gulou District government officials, which marks the cooperation between both parties regarding Hengli's Hengli Prosperity Centre in Gulou, Fuzhou City, the PRC.
The ceremony is one of the Fujian Province's activities to invite investments from overseas. At the presence of the government officials, representative of Hengli signed the Investment Agreement with Mr. Xu Ming Zhong, Deputy Head of Gulou District, Fuzhou City.
Hengli Prosperity Centre, situated in the Wusi commercial district in Gulou, is a high-end commercial property project with a total gross floor area of around 51,699 sq.m. It is expected to commence construction in June 2011. Hengli Prosperity Centre is located close to the Company's 3 other projects in Gulou, namely Hengli City, Hengli Financial Centre and a land designated to develop high-end commercial properties with residential buildings projects, recently acquired on 15 March, 2011. The development of the project is expected to benefit from the allocation of resources and create a synergy effect.
Mr. Chen Chang Wei, Chairman of Hengli, said "The Fuzhou City Gulou District government has been very supportive of Hengli's development in the region. The signing of Investment Agreement symbolizes the strengthen of coorperation between both parties. We are very confident in the real estate industry in Fuzhou City. Hengli currently owns 4 projects in the area, and we believe it would enhance our strength and market position in Fuzhou financial zone, as well as the future business expansion of the Company."
About Hengli Properties Development (Group) Limited
Hengli Properties Development (Group) Limited is listed on the main board of the Stock Exchange of Hong Kong Limited (stock code: 169). The Company is principally engaged in the sales and development of property projects, as well as the investment of commercial properties. Currently the key projects of the Company are in Gulou District of Fuzhou city, a Strait West Coast Economic Zone. The Company owns Hengli City, Hengli Financial Centre and Hengli Chuangfu Centre.
