Euro Asia Premier Real Estate Company Limited / Euro Asia Completes Major Building Stage
at the Training and Exhibition Center of Weifang processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this announcement.
Weifang (People’s Republic of China), 12 July 2010.
Euro Asia Premier Real Estate Company Limited (“Euro Asia”, ISIN: VGG3223A1057)
publishes today the completion of the building shell and roof work at it’s Training and
Exhibition Center development complex in Weifang. This major construction stage was
finished according to schedule. Work on the building commenced on 1 July 2009 and is
expected to be completed in December 2010, and will commence operations in early 2011.
The Training and Exhibition Centre consists of a 15-storey main building and exhibition
hall on the ground floor. The planned gross floor area is approximately 27,361 m². After
completion, the property will be used as a 5-star hotel and conference centre. There are
no other 5-star hotels in the immediate vicinity. The Training and Exhibition Centre
will be operated by NIW Real Estate, Euro Asia’s operating subsidiary in the People’s
Republic of China.
Chairman of the Board, Mr. Sun XiYi, stated, “We are very pleased with the fast process
of the construction works. So far we have invested RMB 25 million, and hence we are also
well in line with our budget of RMB 52 million or RMB 1,900 per square meter for the
whole premise. We are looking forward to start operating the building early 2011 in
order to generate additional cash flows for the group.”
About Euro Asia
Euro Asia is a BVI registered company, active in real estate development in the Shandong
area of the People’s Republic of China. The Company operates locally through its
subsidiaries, jointly owned with SNI, a leading local development company. Generating
leasing revenues from a number of commercial properties, the Company has a number of
other projects under development. By utilizing its strong local network to banks,
political decision makers, land owners and other developers, the Company intends to grow
its position in the region prior to moving into other prefecture-level cities.
Schwarz Financial Communication
Tel: +49 611 1745 398 11
Press Release as PDF http://hugin.info/143073/R/1430998/377546.pdf
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Euro Asia Premier Real Estate Company Limited
Jian Hong East Street No 316 Weifang City, Shandong China
Listed: Xetra Stars in Frankfurter Wertpapierbörse;