SHANGHAI Holdings, a Singapore development group, is making an aggressive foray into the China market with its latest development project, a US$20 million golf resort to be built in Guangzhou.
The Guangzhou International Golf Club will be developed by Orwell investments, one of the 10 subsidiary companies of the group.
The land, leased from the Chinese Government, is in the town of Xiancun, a 30-minute drive from the city.
According to Lim Seak Koon, the founder and managing director of Shanghai Holdings, the golf club will boast world-class golfing and resort facilities when it opens next year.
It will target Guangzhou's businessmen; expatriates and their families; investors from Shenzhen, Hongkong and Singapore; and frequent business investors visiting China.
''We see a potentially strong market for leisure and recreation in China in the future given the growing base of local entrepreneurs, corporate executives and expatriates, with the purchasing power, not only in Guangzhou and Shenzhen but the surroundingregion as well,'' said Mr Lim.