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Guangdong lures major developers

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BOOMING Guangdong province has attracted property development investments totalling more than $750 million by two more Hongkong-listed companies - Termbray Industries International and Winfoong Investments.

Electronics and consumer products-maker Termbray yesterday kicked off its $500 million development in Conghua, Guangzhou.

The luxury project is a joint venture involving Termbray, the White Swan Hotel Group in Guangzhou, Conghua Trust and Trading Co and Guangzhou Sui Cong Industries Holdings.

The White Swan Garden development, situated on a 280,000-square-metre site in the heart of the Conghua Hot Spring resort area, is a significant move by Termbray to diversify away from its manufacturing business.

The project will comprise 250 bungalows and 13 high-rise residential blocks.

Conghua mayor Zhu Binglie said the development could further boost the tourism industry in Conghua, which attracts more than one million tourists annually.

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