Swire Properties has signed a Letter of Intent with Guangzhou Pearl River Enterprises Group (“PREG”) to jointly develop a commercial project in the Julong Bay Area, located in the Liwan District of western Guangzhou. The area enjoys stunning scenery along the Pearl River and has a rich cultural and business heritage as the “cradle of Lingnan culture”. The Julong Bay Area is positioned to become the new “West Central Business District” of Guangzhou and has strong development potential.
Under the overall planning by the Guangzhou Municipal CPC Committee and Government, and led by the relevant municipal government departments and Liwan District, PREG has developed a comprehensive development and management plan for the Julong Bay Area, in accordance with President Xi Jinping’s guidelines to “inject new vitality” into the city by further integrating urban functions, strengthening urban culture, upgrading the service industry, and cultivating an international business environment. The aim is to create a “West Urban Living Room”, which organically blends culture, commerce, tourism, innovation, and residential living.
