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Nanyang redevelops

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NANYANG Holdings is redeveloping the site of its cotton mill in Kwun Tong into a 27-storey industrial and commercial building.

The company is currently transferring its textile operations to Shanghai.

It expects to take vacant possession of the 4,389 sq m Kwun Tong site in May.

Nanyang hopes to start foundation and piling work in June, with completion of a 48,212-sq m building expected in early 1995.

The development is fully financed through a $220 million mortgage loan.

Nanyang intends to use part of the new building for warehouse space and will lease the remainder to third parties.

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