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$77.86m in investment injected into Changsha

(chinadaily.com.cn)
Updated: 2017-09-04

Changsha airport economic demonstration zone has celebrated signing deals with two major investors to plow approximately 512 million yuan ($77.86 million) into the area.

Mapletree Investments, a subsidiary of Singapore-based Temasek Holdings, and Changsha Kanglai Hotel Management won the bids for two blocks of land covering an area of 115.3 mu (7.69 hectares) in the demonstration zone on Aug 29.

Mapletree Investment will spend about 300 million yuan on projects including commercial real estate, industrial parks and logistics facilities, which are expected to generate operating revenue of 60 million yuan on a yearly basis when functioning. Upon completion, it will offer 200 jobs for Changsha locals.

On the other hand, Kanglai's projects focuses on a high-end starred hotel that is estimated to bring in annual revenue of 56 million yuan, with an investment totaling 212 million yuan.

The Changsha airport economic demonstration zone is the seventh state-level economic area centering on the development of the airport industry.

The settlement of high-end hotels conforms to the overall development layout of the demonstration zone, and will help advance industrial upgrading and regional development, according to insiders.

$77.86m in investment injected into Changsha

A rendering of what the future of Changsha airport city might look like. [Photo/icswb.com]

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