Pacific Concord Holding, the telecommunications and property group, has launched a campaign to promote its mainland holdings and boost investor confidence in the stock. The group's shares closed at $1.78 on Friday, up 12 cents, or 7.2 per cent, from Tuesday's $1.66. Company chairman Wong Sai-chung said the company had recently invested more than two billion yuan (about HK$1.86 billion) in real estate and projects in the mainland real estate market. Mr Wong claimed the higher public profile would coincide with the completion of the projects and their contribution to the company's earnings. He said its mainland property investments were worth more than five billion yuan and were big enough to spin off in a separate listing on the Hong Kong stock exchange. Mr Wong would not provide any details as to when the group might make the move. Pacific Concord has commercial projects in mainland cities including Shanghai, Wuhan, Beijing and Suzhou. The biggest development in China is its 60 per cent-owned Shanghai Concord Plaza, a 3.2 million square foot commercial, office and residential development in Nanjing West Road. The first phase of the development, including two apartment blocks and a 200,000 sq ft shopping arcade, is scheduled for completion by the end of the year. Other projects include a 150,000 sq ft shopping arcade at Guanqian Street in Suzhou and a 600,000 sq ft, 27-storey commercial, office and residential development in Liberation Avenue in Wuhan, adjacent the city's largest shopping centre, the Wuhan Department Store. 'The company's strategy is to establish its presence in the prime location of China's prime cities,' Mr Wong said. He said the investment policy was to retain the shopping arcades for long-term investments and sell the residential and office spaces to generate immediate income for further expansion. The shopping arcades in Shanghai Concord Plaza would have a total floor area of 1.9 million sq ft, Mr Wong said. Assuming all spaces were leased, Mr Wong said the completed project would give rise to substantial recurrent income to the group. In Beijing, Pacific Concord owns two shopping arcades with floor areas of 280,000 sq ft and 800,000 sq ft. Its parent company, US Concord (Holdings), has a 1.4 million sq ft, retail-office-residential project in Shenyang. Pacific Concord executive director Kwan Kai-cheong said the parent company did not plan to inject the property into the company at the moment. Mr Wong said investment capital for its mainland property projects would be financed by proceeds from the sale of the company's residential development in Ma On Shan, Hong Kong.