[ET Net News Agency, 16 January 2018] K. Wah International Holdings (00173) said it
acquired six land parcels with attributable GFA of 420,000 sqm in Hong Kong and Mainland
China in 2017, further strengthening its foothold in Hong Kong, the Yangtze River Delta
and Pearl River Delta regions.
In Hong Kong, the Group, together with partners, won a tender for phase one of the West
Rail's Kam Sheung Road Station development project in May 2017. The development with a GFA
of approximately 114,800 sqm enjoys a comprehensive railway network.
In November 2017, the Group was awarded again with partners a residential plot with a
GFA of 91,700 sqm in Cheung Sha Wan, Kowloon. This waterfront site is well positioned in
walking distance to the nearby MTR station connecting to Central, Hong Kong International
Airport, the West Kowloon terminus of the Express Rail Link and other business districts.
In the Yangtze River Delta, K. Wah participated in a joint venture project, namely
"Royal Creek", in Pukou District, Nanjing, with a GFA of 98,500 sqm, in January 2017.
In November, the Group also won a 58,000 sqm residential site in Suzhou National Hi-Tech
District, a debut in Suzhou expanding its presence in the Yangtze River Delta. Adjacent to
the Suzhou Xinqu Railway Station of the Shanghai-Nanjing Intercity High-speed Railway and
the impending Suzhou Rail Transit Line 3, the project is located strategically at a
sophisticated transportation and commercial hub.
In the Pearl River Delta, KWIH seized the opportunities arising from the Guangdong-Hong
Kong-Macau Greater Bay Area development and acquired two development sites in Jiangmen by
tenders in August and October respectively in 2017.
Located in Jianghai District and in proximity to the Jiangmen East Station of the
Guangzhou-Zhuhai Intercity Rail Transit, the two adjacent plots have added a total GFA of
approximately 278,600 sqm to the Group's land bank.
With strong footholds in Shanghai and Guangzhou, K. Wah has been constantly eyeing on
expansion opportunities in neighbouring cities that offer development potential to sustain
its business momentum and promising returns to shareholders. (KL)