New World China Land Limited ("NWCL" or "the Group", Hong Kong stock code: 917) held a ground breaking ceremony on the morning of 9 September for the Phase two development of the Shenyang New World Hotel, located at the heart of the commercial district at Nanjin South Road, Heping District, Shenyang. Dr Henry Cheng, Chairman and Managing Director of NWCL; Mr Li Yingjie, Mayor of Shenyang; Mr Liu Yaqin, Chairman of Shenyang Committee of Chinese People's Political Consultative Conference ("CPPCC"), and Mr Xing Kai, Standing Member of Shenyang Municipal Party Committee and Deputy Mayor of Shenyang officiated the ground breaking ceremony.
Dr Henry Cheng expressed his gratitude to the Shenyang Municipal Party Committee, the Shenyang Government and relevant departments in his speech, for their great support to the Phase two development of the Shenyang New World Hotel. He said that NWCL will fully contribute to building another sophisticated project and landmark in Shenyang.
Mr Xing Kai said in his speech that Shenyang is implementing a series of measures to develop its service industry. He hopes that NWCL could make use of such good opportunity to speed up their project development in the region. The Shenyang Municipal will continue to support all kinds of project construction and create a good investment and development environment.
The Phase two development of the Shenyang New World Hotel is located at Nanjin South Road, Heping District and is adjacent to the West of the Shenyang New World Hotel, being a part of the central business and shopping area. The Phase two project comprises of a 40-storey service apartment, a four-storey commercial podium and four-storey car park at the underground levels. The total GFA is 84,800 sq m. Part of the podium will be used for the expansion of the Shenyang New World Department Store - Nanjing Street Branch Store inside the Hotel. The estimated investment of the project would be around RMB 1 billion, and the project is expected to be one of the landmarks in the area upon completion.
The Phase two development of the Shenyang New World Hotel is the 7th project of New World Group in Shenyang. Starting from 1993, New World Group has invested in various projects, such as the Phase one of Shenyang New World Hotel, New World Department Store, New World Garden and Shenyang New World International Convention and Exhibition Centre, etc, and is one of early entries and significant investors to the Shenyang market among the Hong Kong based enterprises.