Source : Business Times – 20 Jul 2009
YANLORD Land Group broke ground last Friday for its four billion yuan (S$849.7 million) residential and commercial development in Zhuhai.
Zhuhai Yanlord Marina Centre will have about 3.2 million square feet gross floor area, comprising high-end apartments, a retail mall, grade A offices and a five-star hotel, Yanlord said in a release.
The development, situated along the coastal front, will have five high-rise towers including a 45-storey, 180-metre tall integrated hotel and office tower, as well as four residential blocks interconnected via a four-storey shopping podium.
The project’s designer is US architectural and design firm NBBJ, which also did The Sail @ Marina Bay condo in Singapore.
Zhuhai Yanlord Marina Centre will feature an angled flat panel facade to mimic five open sails that will be interwoven with the surrounding natural features to accentuate a ‘waveform highlighting the visual extension of Zhuhai City’s coastline into the horizon’, Yanlord said.
The project will benefit from the economic developments in Macau, Guangzhou and Hong Kong. The development is strategically located next to the Zhuhai-Macau immigration checkpoint at Gongbei, the gateway into Zhuhai.
Yanlord chairman and chief executive Zhong Sheng Jian said: ‘When completed, Yanlord Marina Centre will complement our other investments and serve to consolidate our presence within the expanding real estate sector of the Pearl River Delta region.’
Currently, the group has a total gross floor area of about 5.4 million sq ft spread across key Chinese cities such as Nanjing, Chengdu, Tianjin and Zhuhai for the development of serviced residences, malls, Grade A offices and hotels.
The property developer last month unveiled plans to issue new shares and convertible bonds (CBs) to raise about half a billion dollars.
It said that it plans to spend at least half of the net proceeds of $497.7 million to fund new development sites, investments and other strategic alliances.
The remaining sum will be used for general working capital requirements.
Yanlord closed unchanged at $2.30 last Friday.
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