EMPEROR (China Concept) Investments has announced plans for a $225 million joint-venture mixed commercial and residential development close to the Guangzhou-Zhuhai Highway in Guangdong. It has entered into an agreement through its 65 per cent owned subsidiary Gold Spirit Investments to co-develop a 580,000 sq m site in Shunde with Chencun Construction Development Co Shunde City (Shunde CCD). Gold Spirit and Shunde CCD have already set up a new joint-venture company to carry out the project, Gold Spirit Development Co (GSDC). The project will have an authorised share capital of $157.8 million, which will be contributed by Gold Spirit. Directors of Gold Spirit said they had no plans for an imminent cash call to finance the estimated $225.4 million cost of developing the first phases of the scheme. The land will be Shunde CCD's contribution to the scheme, which is the case with many joint-venture property developments in China. Gross floor area will be 870,000 sq m, to be developed in phases over at least 12 years. If circumstances permitted, development costs would be partly met by borrowings and sales proceeds from the initial phases of the project, GSDC said. Title to land use rights have not yet been obtained by GSDC and this could prove a sticking point if the Chinese authorities got tough following the announcement of new austerity measures. However, the directors of Emperor (China Concept), a property arm of Emperor International Group, yesterday seemed unperturbed by Beijing's recent attempts to cool the China property market. Director Vanessa Fan said: ''I believe the property market in China will continue to grow and the Shunde project will enable the company to further participate in China's property development.''