Real Estate
The soaring growth of China's economy in the past 20 years has
given impetus to the great market demands for real estate in China.
As a result, Chinese consumers have become increasingly demanding
and sophisticated with regards to estate location, architectural
style, quality of building materials and even eco-environmental
issues when purchasing/renting high-end residential or commercial
properties.
In order to satisfy such market demands, the Kingold Real Estate
Division has created one legend after another by building high-end
hotels, office and residential buildings.
When China’s real estate market was stagnant in 1989, Guangdong
Foreign Businessmen Club/Hotel, invested by the Kingold Real Estate
Division, became the first hotel of its kind to offer high-class
services to the foreign businessmen in China. Shortly after the
completion of the hotel/club, the Kingold Real Estate Division
invested to build the Guangzhou International Trade Center and
Fuxing Commerce and Trade Building. As a Grade I office building,
the Guangzhou International Trade Center was in a premium location
to be among Guangzhou’s landmark buildings together with the CITIC
Plaza and the China Mayor’s Plaza in its proximity. Situated at the
new central axis of Guangzhou, Fuxing Commerce and Trade Building
also became one of the most popular high-grade office buildings in
Guangzhou.
Despite the real estate market slump in 1995, Dr. Chau Chak Wing
invested RMB1.6 billion yuan to build a large residential estate
--- Huiqiao New City with a gross floor area of 1,200,000 square
meters, which greatly helped Guangzhou Municipal Government to
implement the policies caring for overseas Chinese. This
residential estate had set several records in the highest sales
volume and the highest number of residents actually living in the
estate for three consecutive years from 1996 to 1998, becoming the
largest overseas Chinese residential area in Guangdong and widely
believed to be the first largest upscale precinct in Guangzhou to
house more than 100,000 residents to date.
The Kingold Real Estate Division never falters in its progress with
forward-looking vision focused on the Wushan universities precinct
in Guangzhou. In 1999, the Kingold Real Estate Division impacted on
the real estate industry in China when it unprecedentedly budgeted
over RMB 10 million yuan to invite international bidding for the
Planning and Design of the Favorview Palace Estate covering a land
area of over one million square meters. Since entering the market,
the Favorview Palace Estate has once recorded an annual sales
volume of RMB 2.0 billion yuan, the best sales performance among
all the deluxe residential estates in Guangzhou. The Favorview
Palace Estate was the only high-end residential estate in Guangzhou
to be honored China’s Top 10 Deluxe Residential Estates” for 2004
and subsequently for 2005 and 2006.
