China Treasure sets completion date for $2.5 Billion Sun City project.ORLANDO Orlando, city, United States Orlando (ôrlăn`dō), city (1990 pop. 164,693), seat of Orange co., central Fla., in a lake region; inc. 1875. In a citrus fruit and farm area, it is one of the world's most visited vacation spots. , Fla.--(BUSINESS WIRE)--Sept. 14, 1995--Clement Mak, chairman of Hong Kong-based China Treasure Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CHNA CHNA Community Health Network Area CHNA Community Health Needs Assessment CHNA Canadian Holistic Nurses Association CHNA College Hill Neighborhood Association CHNA Castleberry Hill Neighborhood Association CHNA Converium Holdings North America ), believes that the $2.5 Billion Sun City project is far enough along that an estimated completion time can be projected. Mak said: "The first phase will be completed by the end of next year. We've already pre-sold almost seventy million dollars. Since Sun City is a 2,400 acre development, it will take between 12 and 15 years to complete, but when it is finished, it will be the most modern city in China." China Treasure was set up in 1992 as a joint venture between the People's Construction Bank's Guangdong branch and the Huiyang City government to develop Sun City, which is their major project. It is a $2.5 billion upscale, satellite city near Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , located in Metro-Huizhou in Guangdong. China Treasure will market and manage it, working with the Huiyang County Government who will carry the costs of the roads, water and electrical systems. Mak said: "We are developing the two most important projects in Sun City. Star place, which is a six million square foot retail complex, is going to be the largest shopping mall in China. The other project is Regent REGENT. 1. A ruler, a governor. The term is usually applied to one who governs a regency, or rules in the place of another. 2. In the canon law, it signifies a master or professor of a college. Dict. du Dr. Call. h.t. 3. On The Park, which is a luxury residential project for the fast growing upper income Chinese and the expanding foreign management employees who want western standards of accomodations." Sun City's commercial section consists of both light industry and retail. Mak said: "We'll help the government auction off the development sections to international investors. Our goal is to attract quality, high-tech manufacturers like Expert Computers, which is the largest manufactuer in China and who is moving their headquarters from Beijing and their factory to Sun City. We're already in discussions with the world's top retailers for our shopping complex." China Treasure Inc. is a Hong Kong-based real estate and infrastructure development company involved in the construction of Sun City, a planned development community in Guangdong Province Noun 1. Guangdong province - a province in southern China Guangdong, Kwangtung of the PRC. For more information, contact Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs Tedrow, the Orlando spokesperson at 801/972-2887 or 407/645-0207. CONTACT: China Treasure Inc., Orlando Thomas Tedrow, 801/972-2887 or 407/645-0207 |
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