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Local business property developers eye HK buyers
24/11/2004 17:13

Jane Chen / Shanghai Daily news

Three local business properties developers will go to Hong Kong to woo investors for their side street booth projects and  villas-for-business-use, today's Shanghai Morning Post reported.
These projects, as well as more than 100 other business properties in eight Chinese cities, will be displayed at a promotion on Friday in Hong Kong, the largest mainland property show on the island.
According to the organizers of the show, China General Chamber of Commerce, Hong Kong investors are greatly interested in mainland properties, particularly those in Shanghai and Guangzhou, south China's Guangdong Province. Some investors have consigned professional property brokerages to visit Shanghai and purchase the mainland properties for them.
Therefore, organizers of this show have invited Hong Kong property brokerages and agencies as well as financial institutions to the event, said Zhan Xuefeng, a CGCC official who is coordinator of the show.
Most of the properties are above 200,000 square meters and 60 percent are in the Yangtze River Delta area and Guangzhou, he noted.
With few projects available this year, Shanghai's property developers will not bring many projects for promotion at this show, according to another show official.
But they are preparing to promote more projects in Hong Kong next year, when more large-scale business property projects will be opened, he added.
Hopefluent Real Properties Limited, a Guangzhou-based property brokerage, for example, plans to help promote Shanghai properties in Hong Kong next year, according to Deng Yongzhong, general manager with the company's East China branch.
Hope Properties successfully organized a promotion for Guangzhou properties in Hong Kong in October, with contracts worth HK$100 million (US$16.8 million)  signed at the three-day event.