To : Business Editor
[For Immediate Release]
(Hong Kong, July 18, 1999) - Hopson Development Holdings Limited ("Hopson Development" or together with its subsidiaries, the "Group", stock code: 754) today announced the topping out of its Tianhe property, Regal Court Phase One, which comprises five blocks of high-rise buildings. The property is open for sale on the same day. With the topping out of Regal Court Phase One, there have been 112 buildings topping out in about one year's time for Hopson Development, one of the property developers in Guangzhou with large development scale and remarkable sales records.
Regal Court is located at the junction of Tianhe Beilu and Longkou Xilu in Tianhe district and is the landmark luxurious property developed by Hopson Development. It is in the close proximity to Hong Kong - Guangzhou express train station, MTR station and Metro Plaza. Site area of the whole project amounts to 26,165 sq. m. and GFA of which amounts to around 210,000 sq. m. It is comprised of three 33-storey, two 32-storey and one 34-storey luxurious residential buildings. The project adopts classic European style, with a modified diamond internal layout design. It also includes a 8,000 sq. m. luxurious clubhouse - Club Regal. All 5 high-rise towers of Phase One were topped out on July 18, 1999.
Mr. Stones Tse, Managing Director of Hopson Development, said, "Regal Court is superior in terms of location, project planning and building quality, reflecting Hopson Development's sincerity and originality devoted in developing its building products. It is virtually a perfect and quality life style for modern people. It also reflects our confidence in the Guangzhou property market. We believe that with the completion of Regal Court, Hopson Development's brandname as a Guangzhou quality property developer will be further recognized.
Regal Court is included in the 112 property topping out this year. Our other projects topping out this year include Huajing New City, Gallopade Park, Fairview Garden and Grandview Place."
Commenting on the future plans and prospects, Mr. Tse said, "We remain very confident in Guangzhou's property market. Housing reforms in the PRC will spur the demand for medium-end residential units, Hopson Development will correspondingly increase the ratio of medium-end housing in its portfolio. We will continue to look for suitable opportunities to replenish our land bank for future development. Hopson Development's properties are well-received in the market for its outstanding integrated quality. In the future, we will capitalize on our advantages and strategically expand, so as to bring higher returns for our shareholders."
For further information, please contact:
Mr. Stones Tse
Hopson Development Holdings Limited
C/O Occasions Corporate & Financial Communications Limited
Tel: 2801 5333 Fax: 2801 5323
Natalie Tam/ Shirley Ng
Occasions Corporate & Financial Communications Limited
Tel: 2801 5333 Fax: 2801 5323
Outside office hours: 9306 7346
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