Hong kong developer moves into guangzhou market for first time

Developer Cheung Kong will unveil two high-end residential projects worth RMB 10 billion in the Chinese city of Guangzhou early next year…the first entry into the city’s property market for the company.

The firm, controlled by Hong Kong’s richest man Li Ka-shing, is beginning to focus more on mainland Chinese real estate over Hong Kong offerings. China’s liquidity crunch offers a “golden time” for expansion according to executive director Chiu Kwok-Hung.

Source: OPP