Nansha aims to lure HK investors with facelift
Nansha Island in Guangzhou will become more attractive to Hong Kong investors as the government spends billions of dollars on infrastructure development and other amenities to improve the environment, according to a mainland-backed developer.
Guangzhou Investment Property Holdings general manager Ou Zhaohe said Nansha was one of the cities picked by the municipal government as a development focus in the next 10 years.
The government planned to spend more than two billion yuan (HK$1.87 billion) on infrastructure and other facilities on the island, he said.
In view of the future development of Nansha, Mr Ou said the firm was building a large-scale residential project, Southern Le Sand, on a 2.8 million-square-metre site.
The project, to be completed in 10 years, has a floor area of 1.5 million sqmetres. Total investment is estimated at three billion yuan. Phase one, comprising 333 villas and 150 apartments, will be completed in October.
Mr Ou said more than 100 units of the first phase were sold, with 10 per cent of the buyers from Hong Kong.
To attract more foreign interest, the developer is launching the project in Hong Kong, with Centaline Property Agency as the marketing agent.
It will launch 40 villas and 28 apartments in the first batch of sale in Hong Kong this month.
