Property Development and Investment – Mainland China

Guangzhou, PRC

The Botanica project – full view

The Botanica 寶翠園, situated in the greenery zone of Tian He District near the Botanical Garden, comprises 39 blocks of high-rise residential buildings. This project, with a total gross floor area of approximately 229,000 sq.m., was developed in four phases. The final phase of the development was completed in December 2016 with all residential units already sold out in prior years. For the year ended 31 March 2019, the Group booked revenue of HK$1,035 million (2018: HK$1,129 million) from the units delivered during the year. As at 31 March 2019, property sales contracted but revenue not yet booked amounted to RMB120 million.

Ganghui Dasha 港滙大廈, a 20-storey commercial/office building, is situated at the junction of Beijing Road, Nanti Er Road and Baqi Er Road, Yue Xiu District. The average occupancy rate of the building was about 95%. The development site at 45-107 Beijing Nan Road, Yue Xiu District, adjacent to a pedestrian street and ultimately terminating at the Pearl River, will be developed into a 30-storey residential building and a 32-storey commercial/office building. Foundation works for the project commenced in the first quarter of this year.