China HGS launched the sales center for the Liangzhou Mansion project
China HGS Real Estate, Inc. (NASDAQ: HGSH) has launched a sales center for its new Liangzhou Mansion project in Hanzhong City, Shaanxi Province. The Liangzhou Mansion will comprise 7 high-rise residential buildings and commercial shops, covering a total planned gross floor area of 160,000 square meters. Construction commenced in December 2020, with presales expected to start in the first half of 2021. The company aims to cater to the growing demand for affordable housing in rapidly urbanizing areas.
- Launch of sales center for the Liangzhou Mansion project.
- Construction started in December 2020.
- Total planned GFA of 160,000 square meters indicates substantial project scale.
- Anticipated presales in the first half of 2021 could boost revenue.
- None.
HANZHONG, China, Dec. 10, 2020 /PRNewswire/ -- China HGS Real Estate, Inc. (NASDAQ: HGSH) ("China HGS" or the "Company"), a leading regional real estate developer headquartered in Hanzhong City, Shaanxi Province, China, today announced that the Company has established a sales center for the Liangzhou Mansion project.
Liangzhou Mansion project is a part of Liangzhou road real estate project. Liangzhou Mansion project consists of 7 high-rise residential building and commercial shops with total planned GFA of 160,000 square meters located in the downtown of Hanzhong city. The construction of Liangzhou Mansion project was started in the beginning of December 2020. The Company expects to begin the presales of project in the first half of 2021.
Safe Harbor Statement
This press release contains forward-looking statements, which are subject to change. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All "forward-looking statements" relating to the business of China HGS Real Estate Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties which could cause actual results to differ. These factors include but are not limited to: the uncertain market for the Company's business, macroeconomic, technological, regulatory, or other factors affecting the profitability of real estate business; and other risks related to the Company's business and risks related to operating in China. Please refer to the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2019, for specific details on risk factors. Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. The Company's actual results could differ materially from those contained in the forward-looking statements. The Company undertakes no obligation to revise or update its forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
About China HGS Real Estate, Inc.
China HGS Real Estate, Inc. (NASDAQ: HGSH), founded in 1995 and headquartered in Hanzhong City, Shaanxi Province, is a leading real estate developer in the region and holds the national grade I real estate qualification. The Company focuses on the development of high-rise, sub-high-rise residential buildings and multi-building apartment complexes in China's Tier 3 and Tier 4 cities and counties with rapidly growing populations driven by increased urbanization. The Company provides affordable housing with popular and modern designs to meet the needs of multiple buyer groups. The Company's development activity spans a range of services, including land acquisition, project planning, design management, construction management, sales and marketing, and property management. For further information about China HGS, please go to www.chinahgs.com.
Company contact:
Randy Xiong,
President of Capital Market
China Phone: (86) 091-62622612
Email: randy.xiong@chinahgs.com
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SOURCE China HGS Real Estate Inc.
FAQ
What is the Liangzhou Mansion project by HGSH?
When did construction for the Liangzhou Mansion project begin?
When will presales for the Liangzhou Mansion project start?
What is the significance of the sales center launch for HGSH?
What is the total planned GFA for the Liangzhou Mansion project?
