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Wearnes has been investing in properties in China, mainly in the residential segment since 1990s. Today, it has a substantial landbank in China, focused mainly in the five cities of Chengdu, Chonqing, Suzhou, Shanghai and Shenyang. Through its property arm Huaxin International, its property business in China consists of property development, property management and property investment. Huaxin International is reputed for its good quality housing, with more than 10 major property projects so far. In the pipeline is a premium residential project that is located on 319,364 sq m site in a prime area in Chengdu, China. Shenyang was where Huaxin International first started its property business in 1990. Due to its foresight in the early years, Huaxin International has a big presence at Youth Avenue today in what is popularly known as the Golden Corridor of Shenyang. The Group is working to develop a prime mixed-use project on the former Summer Palace site. That site is about 33,473 sq m. In that vicinity, Huaxin’s properties Riverside Garden and Wulihe Plaza are already located together with 5-star international hotels in the bustling area. Wulihe Plaza has 17,000 sq metres of retail space that houses the likes of international brands such as Louis Vuitton and Prada. Huaxin was also one of the first to develop large-scale residential properties in Suzhou. In 2002, it sold out an entire phase of 700 units of its Orchard Manor project within three days. Over the years, Huaxin International has garnered awards for setting high standards in design, construction, technological innovation, brand recognition, environmental protection and property management. Besides Huaxin International, the Group also has a portfolio of about 100,000 sq m of properties in Malaysia. |
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