Fantasia kicks off Suzhou hotel project Groundbreaking at Taihu Lake marks start of construction on landmark icon
July 5, 2010, Hong Kong - Fantasia Holdings Group Co., Ltd. (hereinafter referred to as "Fantasia" or the "Company"; Stock code 1777) announced today that the groundbreaking ceremony of the company’s five-star hotel facility in Taihu Forum for Culture was successfully held on June 29, 2010 at Taihu City’s land lot no.2 in Suzhou, China. In attendance at the ceremony were: HUANG Ji, Director of Suzhou Taihu Lake National Resort Management Committee, PAN Xiangrong, Deputy Director, and managers from various departments of the Management Committee, as well as ZHANG Zhong, General Manager of Fantasia Suzhou Huawanli Real Estate Development Co., Ltd., and WANG Ge, Chairman of the Suzhou Branch of CITIC Investment Holdings Ltd..
The hotel to be constructed at lot no. 2 is the first project developed by Fantasia Suzhou Huawanli Real Estate Development and is destined to be a landmark icon at Taihu Forum for Culture. It not only offers an upgrade to the hotel services offered in the area, but also marks a new phase in the construction of Fantasia’s Suzhou Taihu Lake project. HUANG Ji commented that the new hotel would raise the profile of Taihu Lake National Resort District, spotlight its culture, and give a big boost to tourism development in the area.
Fantasia’s successful entry into Wuxi and Suzhou demonstrates further strengthening of the company’s strategic focus in the Yantze River Delta. The gross floor area of this Suzhou hotel project is 530,000 square meters, with the land cost standing at approximately RMB1,500 per square meter of planned floor area. Situated in the well-known Taihu Lake National Resort District, the project is in the immediate vicinity of a yacht club, a golf course and many other high-end business facilities. Fantasia will leverage its outstanding execution skills in building high-end boutique upscale residences to mold this piece of land into a premier community featuring the best of Suzhou’s unique culture. Upon completion, the project will add to the already stunning landscape around Taihu Lake Resort.