New World China Land will soon announce an estimated two billion yuan (about HK$1.8 billion) investment in at least three property projects in Shanghai, according to assistant general manager Alex Pun Lap-fu.
He said the projects would include residential, office and hotel developments, but refused to disclose more about the investment. The company, a subsidiary of New World Development, plans to increase its investment in the city to 10 billion yuan in the next two years.
In Shanghai, New World China Land has four major developments for sale, with a total gross floor area of 6.25 million square feet, and 2.79 million sq ft of investment properties under development.
To capture the opportunities arising from China's entry into the World Trade Organisation and the 2008 Olympic Games in Beijing, the company would concentrate on grade-A office space, intelligent buildings and expatriate housing such as villas and serviced apartments in Shanghai and Beijing, he said.
