A series of contracts for space usage in the Hengqin Grand MixC complex have been signed during a global industrial investment promotion conference held this week in the Zhuhai International Convention Centre, the Zhuhai Government announced yesterday.
The RMB50 billion (US$7.43 billion/ MOP59.88 billion) mixed-use complex is conjointly financed by China Resources Land Ltd., Macau-based San Fong Wang Property Development & Investment Co. Ltd. and San Fong Lok Property Development and Investment Company Limited, and China Resources Trust, according to a China Resources Land filing with the Hong Kong Stock Exchange in early February 2016.
The filing announced the establishment of the fund for financing the project.
As at the date of the announcement of the fund, the Macau-based companies which are partly funding the development of Grand MixC, San Fong Wang (SFW) and San Fong Lok (SFL), were owned by Ng Lap Seng’s son, Ng Kei Nin, and daughter Ng Fei Lan.
Ng Lap Seng was convicted last Friday of conspiracy, money laundering, and bribery of United Nations’ high officials linked to the development of a Convention Centre in Macau.
Some of the agreements inked this week for occupying the premises of Grand MixC include Ego Group Co. Ltd., Golden Maple Holdings Pte. Ltd., Valeria Lanaro Enterprise, and China Resources Healthcare Group Ltd. (CR Healthcare).
According to the Zhuhai Government, other domestic and international companies have also signed agreements for the space, with an announcement for plans by Grand MixC to co-operate with S++ (Shanghai) Co. Ltd. to establish a global sports domain.
The complex under development was created to become a retail and cultural destination in Henginq, targeting the boutique trade and exhibitions, healthcare, cultural and creative activities as well as hi-tech industries.
Construction began at the end of 2016, with the first phase targeted for completion in 2018.
China Resources Trust is a company established in Mainland China, principally engaged in the provision of comprehensive financial services.
Macau-based SFW and SFL are principally engaged in the business of conventions and exhibitions, property management, commercial real estate investment and operation business.
10 Design is the architectural design company selected from four international competitors to design the project with a planned floor area of more than 2 million square metres.