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Press Releases

KWIH Strengthens Foothold in Pearl River Delta with Another Successful Land Bidding in Shilong, Dongguan

26 Jan 2014

(Hong Kong, 26 January 2014) – K. Wah International Holdings Limited (“KWIH” or “the Group”) (stock code: 0173) has acquired a prime commercial and residential land parcel in Shilong, Dongguan for a total of RMB115 million earlier this month. The acquisition further strengthens KWIH’s foothold in the Pearl River Delta region. The Group plans to develop the plot into a large scale integrated residential project together with its adjacent project, with initial launch slated for Q4 2014 or early 2015.

A 230,000-sqm large-scale riverside development offering quality modern living

The commercial and residential land parcel is located at Xihu Middle Road, Shilong, Dongguan, covering an area of 13,686 sqm with a plot ratio of 2.5 times and a GFA of 34,210 sqm. The plot has an accommodation value of RMB3,360 per sqm. The Group plans to develop this land parcel together with another adjacent plot secured in 2H 2012 into a large-scale residential and commercial property with a GFA of more than 230,000 sqm. Enjoying a panoramic view of East River, the land plot is close to Guangshen Railway Station, and easily accessed via a pivotal transportation network connecting to the Guanshen Express Highway, the East Dongguan Highway and the Shilong Station of the R2 Lightrail Line. The neighborhood is also complete with an array of facilities such as parks, schools, department stores and hotels, making it an area with good potential for development.

Design plan rendering of the residential and commercial development in Dongguan

Design plan rendering of the residential and commercial development in Dongguan

Paddy Lui, Executive Director of KWIH, said, “With the Shilong train station coming into operation earlier this year, Dongguan is set to become a major traffic hub connecting Guangzhou, Shenzhen and Hong Kong. This is conducive to realizing the development potential of our two contiguous plots. We expect this large-scale project to appeal to market demand and further solidify our business in the Pearl River Delta region. Committed to developing niche and premium projects, KWIH will continue to delight the market with quality, innovative and competitive products, while accelerating the project development cycle for continuous asset turnover.”

Over 20 projects in Hong Kong and Mainland China well underway

The development of over 20 projects in Hong Kong and Mainland China is progressing well, with half of them ready for debut at an opportune time. The Group will continue to market its Mainland projects following from last year. Besides rolling out the remaining units of The Palace and Upstream Park in Shanghai, J Metropolis and Le Palais in Guangzhou, the Group intends to launch several new projects including Grand Summit in the heart of downtown Shanghai, the second phase of both J Metropolis and Huadu Jiahua Plaza in Guangzhou, and the Shilong Project in Dongguan.

Secured eight land parcels in past 18 months to increase GFA by 500,000 sqm

The Group has acquired eight land parcels in Hong Kong and Mainland China at a sum of close to HK$8 billion since 2H 2012. These dynamic initiatives have expanded the Group’s presence into Dongguan and Nanjing.

Backed by a prime asset portfolio comprising 1.7 million sqm GFA of properties already launched, under development and planning mainly in Hong Kong, Shanghai and Guangzhou, and a 3.9% stake in Galaxy Entertainment Group (stock code: 0027), the Group is equipped with flexible and ample resources.

Paddy Lui added, “Leveraging our strong financial position, we will continue to replenish our land bank in a prudent and disciplined manner to drive growth while delivering the best possible return to our shareholders.”