(18 June 2008 Shanghai) Shanghai Forte Land Co., Ltd. announced that it has, through auction, acquired a commercial site located in the High-Tech Industrial Development Zone of Chengdu in Sichuan Province, for a consideration of RMB 153 million.
The site is situated in the South Park district of the Chengdu Hitech Industrial Development Zone: To the east is Yizhou Boulevard, to the north Desai Street Number 2, and to the west Chenghuanan Road. It will be developed into a large-scale comprehensive commercial project, with total GFA aggregating no less than 200,000 sq. m. Forte plans to build a comprehensive commercial complex comprising both office buildings and commercial establishments.
Forte s is optimistic of Chengdu s long term development potential, and this acquisition is in furtherance of Forte s strategy to expand the company s national footprint.
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