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Developer Tian An to sink $1.8b into eastern projects

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Mainland property developer Tian An China Investments Co plans to invest two billion yuan (about HK$1.8 billion) on projects in eastern China this year.

Managing director David Hui Yip-wing said the projects - in Shanghai, Nantong, Wuxi, Changzhou and Nanjing - involved 700,000 square metres of floor area.

About 400,000 square metres of the mainly residential projects were due to be completed by next year, he said.

The projects included the Sheshan Country Club villa development in Shanghai and Tian An International Mansion in Nanjing.

Mr Hui said the group would not be affected by the mainland government tightening control on land supply.

He said the Hong Kong-listed company's mainland land bank could provide a developable floor area of about five million square metres - enough for several years of development, given an annual average usage of 700,000 square metres.

'So the more the government restricts the supply of land, the better for us,' Mr Hui said.

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