Chinese enterprises to grab the London project

British Advanced Business Park (ABP) yesterday set up an office in Hong Kong, and will start pre-sale, the company’s chief executive officer of London, said Xu Ying, the company’s largest commercial project in London, the Royal Albert Dock Development Zone, by the Chinese enterprises, The Hong Kong office has become a bridge to its customers in China, Asia and Europe.

Headquarters base two years ago in London to obtain the Royal Albert Dock Development Project, started at the end of last month, with a total investment of 1.7 billion pounds (about 17.3 billion Hong Kong dollars), the project is by the President Xi Jinping and then the British Prime Minister Cameron witness, Signed in London in October 15, that the project is “one way all the way” landing in the UK.

ABP: 5% for internal subscription

Xu Ying said that the project is relatively large, the development cycle of about 6 to 8 years, expected the first phase of about 20 office buildings will be delivered in the first quarter of 2019, so far through the internal subscription has sold more than 5 percent, the official pre-sale will be established in Hong Kong office After the official start.

Unlike existing domestic projects selling more than renting, she expects half of the London project rentals, 70% of which are office buildings and 17% as residential sales. At present, the first part of the sales office, she said if the pre-sale situation is good, but also consider the first phase of the project all sold. She said the current buyers include Hong Kong, the Mainland, India and the UK financial services, innovation and high-tech enterprises, with the majority of Asian companies, each priced at between 100 million to 200 million yuan.

The headquarters base currently has four projects in the Mainland, the project development cycle of 6 to 15 years, each project investment of more than 20 billion yuan. Group deputy general manager Wang said that the company’s income mainly from domestic projects, the London project in 2019 to produce performance contributions.

The company stressed that in the “one way” in the context of overseas business, but Xu Ying said that in recent years will still be the main UK projects, no other overseas expansion plans.