HONG KONG, Dec. 5, 2013 /PRNewswire/ -- Today, Prime Minister David Cameron of the United Kingdom laid the foundation stone for WE City, an extensive mixed-use development project in a prime area of Chengdu, earmarked as its new financial district. The project is being developed by Hongkong Land together with KWG Property Holding Limited (KWG).
Sir Henry Keswick, Chairman of Jardine Matheson Holdings Limited, Mr Adam Keswick, Deputy Managing Director of Jardine Matheson Holdings Limited, Mr Y K Pang, Chief Executive of Hongkong Land, Mr Kong Jian Tao, Executive Director and Chief Executive Officer of KWG, and executives from professional consultants including Benoy, Parsons Brinckerhoff, Savills and Merlin Entertainments Plc, joined the British Prime Minister to officiate at the ceremony.
"We are honoured to have the Prime Minister of the United Kingdom here to take part in this milestone event. His presence underlines the growing strategic importance of Southwestern China, which is also a key focus for Hongkong Land with almost 70% of our investments in mainland China made in this region," said Mr Pang at the ceremony. "Chengdu has emerged in the last decade as a powerhouse within China with a dynamic business and industrial sector. The city also has a reputation as one of the country's most livable cities. Through this project 'World Exchange City', or 'WE City' as it is known, Hongkong Land's aim, together with our partner KWG, is to create an iconic mixed-use commercial and residential community, a future Chengdu landmark."
Strategically located in the Pan Cheng Gang Area of Chengdu's Jinjiang District, WE City is an exciting mixed-use development which will include high-rise residential apartments, serviced apartments, a lifestyle shopping mall, office space and a stylish luxury hotel. The entire development will have 1.3 million sq. m., with a total investment cost of almost RMB15 billion. Skyville, the residential development of WE City, will feature some 4,000 luxurious apartments upon its completion in several years time.
"Residents at WE City can take advantage of the convenience of downtown living while enjoying their meticulously designed apartments and the comprehensive retail and lifestyle experience the mixed-use project will offer," remarked Mr Pang.
Situated within the East Avenue Financial Hub, WE City will be served by both Metro Line No.2 and the future Line No.8, offering superb connectivity around the city. The project will be developed in phases with the first phase of Skyville, comprising 1,400 apartments, scheduled for completion in 2014/2015. WE City is Hongkong Land's debut project in Chengdu and a significant investment for the Company as part of its long-term strategy of expanding its footprint across Asia's prime cities.
- End -
