Related News
Home » Business » Real Estate
Greenland to invest in 2nd project in S. Korea
Print Edition
SHANGHAI Greenland Group Co has agreed to invest 6 billion yuan (US$983.6 million) in a mixed-use project on Jeju Island, South Korea’s most popular tourist destination, as the Chinese company continues to expand overseas quickly.
The 218-meter-tall Jeju Dream Tower — the company’s second project on the island — will comprise 1,000 luxury serviced apartments, an upscale hotel, various entertainment facilities as well as duty-free shops with total gross floor area exceeding 300,000 square meters, said Greenland, which signed an agreement yesterday with a subsidiary of Lotto, one of South Korea’s key conglomerates.
“The new project is a further demonstration of our optimism in Jeju Island where our first project has received very positive feedback from investors, the majority of them Chinese mainlanders,” said Zhang Yuliang, chairman of Shanghai Greenland. “We will remain committed to expanding our overseas presence at a rather fast pace as we continue our globalization process.”
The construction of the twin-tower project, touted as the highest on Jeju on completion, will take about three years, Greenland said. The company targets Chinese buyers for the apartments.
Greenland may reap over 2.5 billion yuan from its overseas operations, including in South Korea, Australia and the US, this year and above 10 billion yuan next year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
