TriGránit Develops City Center in China

Hungary's TriGránit Development Corporation and the People’s Government of Putian City, Fujian Province in Southeast China signed a Letter of Intent on development and construction of a large urban center and a leisure complex.

The Putian City Government has chosen the concept of TriGranit for the 500,000 m² urban development. The estimated value of the project to be developed on a 20 ha is 300 million USD.Thanks to its long-term experience, internationally recognized and awarded property developments, the appreciations of the independent experts, as a result of the next year tender TriGranit can successfully develop the Antel European City concept.

Putian City and TriGránit Development Corporation signed a Letter of Intent on September 8, 2012, during the 16th China International Fair for Investment and Trade held in Xiamen, for the development and construction of the project in Putian City of more than 3 million people.

At the signing ceremony, Mr. Árpád Török, TriGranit CEO underlined: The first Chinese property development project of the 15-year old TriGránit, one of the leading European property developer and investor companies, is a significant proof, that a regional company with solid financial background, international experience and references is ready and able to manage important developments in the competitive market of the Far East, too.

It is my firm belief that this venture will be recognized as one of the leading projects of our intense last years’ activities in the Hungarian-Chinese economic relations. TriGránit – maintaining its leading role in the Central Eastern European region – will start this 500,000 m² urban center property development next year, to be followed by several others in China.

Entering the tender to be issued by the Putian City (located in the Fujian Province, larger than Hungary in size, with 35-million citizens) TriGránit formed consortia with the local property development expert Antel Group, and finalized the urban development and construction plan. In the new city center offices, residential, cultural, and retail units will be developed.

(source: Trigranit.hu)