Hong Kong CTS Group Invests in First Real Estate Project in Suzhou
Hong Kong CTS (Suzhou) Property Co., Ltd., a wholly owned subsidiary of Hong Kong CTS (China) Investment Co., Ltd., held a grand foundation laying ceremony for its first real estate investment project in Suzhou, the CTS Garden, in Louifeng Township on Oct. 29. The project involves a land parcel of approximately 100,000m2 on the east of Jinji Lake and the north of Songjiang Road., with a constructed area of 160,000m2.
Founded in 1928, Hong Kong CTS Group is a large backbone state-owned enterprise under State Assets Management Commission of the State Council, engaged in investment activities in tourism, industries (iron and steel), real estate development, logistics, and trade, as well as one of the four biggest Chinese-funded corporations in Hong Kong. With a total assets of 40 billion RMB, the Group has invested in real estate projects in a dozen cities like Shenzhen, Shanghai, Shenyang, and Zhuhai, and has built up initial scale in national strategic deployment of such large-scale properties in combination of tourism and land properties as Shenzhen Overseas Town, the World's Window, the "Brilliant China", the CTS International Guild House, Zhuhai Haiquan Bay, Shanghai Huili Garden, etc. The project of CTS Suzhou Garden signifies the further expansion of the Group's real estate undertakings and the determination to carry out multi-polar investment in SIP.
Loufeng Township, based on successful investment promotion of industrial projects, has in recent years reinforced efforts in attracting service sector investment projects in real estate, commerce, F&B, leisure and tourism, and a number of well-known domestic and overseas service businesses, such as Carrefour, BIS Supermarket, Guomei Electrical Appliances, Century Lianhua, etc. The entry of enterprises of service sector in Loufeng will bring about further flourishing economy and social life in the township.
Nov. 1, 2006