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Cosmopolitan International Holdings Ltd Signs Cooperation Agreement to Develop “Wuxi New Century City” in Huishan, Wuxi, China

November 1, 2013 Hotel Openings No Comments Email Email

Cosmopolitan International Holdings Ltd (stock code: 00120) is proud to announce the signing of a cooperation agreement with the Government of Huishan District, Wuxi City for the development of “Wuxi New Century City”, a high-end  residential, commercial, and entertainment complex with a proposed total investment of over RMB 10 billion.

1.	An artist impression of Wuxi Century City Project (This is an artist’s impression of the preliminary concept design of the development. The development is subject to approval of relevant authorities. The final design, if the project proceeds, may be substantially different from this impression.)Affectionately known as the “Little Shanghai”, Wuxi is strategically situated amid Shanghai and Nanjing, one of the 10 key tourist cities and one of the first batch of outstanding tourist cities in China. In 2012, the GDP per capita of Wuxi reached RMB 117,400, ranking first in Jiangsu Province. In the same year “Forbes” ranked Wuxi the fifth best commercial city in China. According to the “2013 Annual Report on China Urban Competitiveness” recently announced by the Chinese Academy of Social Sciences, Wuxi is the “Most Livable City” after Hong Kong and Macau in China. Wuxi City has also been selected as one of “The Happiest City in China.”

“Wuxi New Century City” is located around Tianyi station and Xizhang station of Metro Line No.1, covering a total area of ​​approximately 937.5 mu with a gross floor area of about 2,000,000 square meters, of which approximately 600,000 square meters will be for commercial use, around 1,400,000 square meters will be for residential use. The development of the land will be carried out in three separate phases.

The project will be developed as a distinguished green and environmentally friendly city in Wuxi, including high-end river-view residential zones with innovative energy saving technology and facilities, and commercial zones with low carbon green grade A offices, hotel, serviced apartments and shopping malls.

1.	Cosmopolitan International Holdings Ltd announces the signing of a cooperation agreement with the Government of Huishan District, Wuxi City for the development of “Wuxi New Century City”Chairman of Cosmopolitan International Holdings Ltd. Mr. Daniel Bong stated, “We are very pleased to cooperate with the Wuxi Huishan government to develop the Wuxi New Century City project, which will be an important development project in the Wuxi Tianyi Metro areas.  With its geographical advantages, we expect a strong potential in the market.”

Executive Director of Century City Group, the parent holding company of Cosmopolitan Group, Ms. Poman Lo added, “With our extensive experience in real estate development and investment, construction, hotels management and environmental construction, we have great confidence that the Wuxi New Century City project will become a 21st century revolutionary prototype of a utopian Eco City featuring the latest green technology and AI solutions.”

The Cosmopolitan Group will participate in the public auction or tender process to be arranged by the local government authority to bid for the relevant land to develop the Wuxi New Century City subject to conditions.  Please refer to an announcement of Cosmopolitan published today and posted to the website of the Stock Exchange of Hong Kong for further details.

Cosmopolitan International Holdings Ltd is a subsidiary of Century City Group. Century City Group, listed on Hong Kong Stock Exchange, is composed of five listed companies namely Century City International Holdings Ltd (HK0355), Paliburg Holdings Ltd. (HK0617), Regal Hotels International Holdings Ltd. (HK0078), Regal REIT (HK1881) and Cosmopolitan International Holdings Ltd (HK0120). Core businesses of members of the Group in Hong Kong and China include investment holding, financial and investment services; property development and investment; construction; hotel management, investment, ownership and management; education and culture.

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