LC, Lum Chang Team Up With Chinese Developer For Housing Project

Source : Channel NewsAsia, 17 December 2007

LC Development and Lum Chang Holdings are teaming up with a Chinese developer, Guangzhou Weicheng Real Estate Development.

Guangzhou Weicheng is developing a largely residential project in Guangzhou, China, called The Lakefront Residence.

It comprises 199 substantially completed residential apartments for sale as well as 188 residential units that have been sold.

The project also includes commercial retail space for rental and another 240 residential units to be built and sold.

Under the agreement, LC Development and Lum Chang will act as a project consultant in the development, marketing and management of the project.

They will also help Weicheng to obtain loans of up to 200 million yuan to complete the development of the project. - CNA/vm