Business park developer sets 4b yuan floor area target
Optics Valley Union Holding, the mainland's second-largest commercial business park developer and operator in terms of area, is to spend nearly four billion yuan this year to double the amount of gross floor area completed last year.
Wuhan-based Optics Valley Union Holding, the mainland's second-largest commercial business park developer and operator in terms of area, is to spend nearly four billion yuan (HK$4.98 billion) this year to double the amount of gross floor area completed last year.
"We plan to complete 800,000 sqmetres of business parks this year, compared with 400,000 sqmetres in 2013, said Huang Liping, the company's founder and chairman.
With 8.69 million sqmetres of gross floor area completed or under construction and land set aside for future development, Optics Valley ranks as the mainland's No 2 business parks company after Tian'an Cyber Park, which has 9.46 million sqmetres. Shui On, which holds 4.1 million sqmetres, is ranked fifth.
Huang said negotiations to develop business parks in Beijing, Shanghai, Xian in Shaanxi province, Chengdu in Sichuan and Tianjin were under way.
Optics Valley, which was listed in Hong Kong in March, had a land bank of about seven million sqmetres, sufficient for seven years of development, he said.