Deng Chengbo  Development of Tsuen Wan Industrial Building

Stan Group, a family member of the Deng Chengbo family, a senior investor, announced that it has established a joint venture with Huajia (00127) to develop the 14-18 industrial buildings project at Ma Kok Street in Tsuen Wan.

The project is now known as Boshi Electronic Building and its total gross floor area exceeds 120,000 square feet. Both parties expect that after the completion of the project, the total floor area of the property will increase by approximately 60% to approximately 190,000 square feet. The Deng Chengbo family and China Placement each hold 50% of the equity, and the project is expected to be completed by 2019.