Grants LVGEM all-rounded financial solutions and credit facilities
Provides support to LVGEM’s quality projects and grasp the Greater Bay Area’s development opportunities
On the 1st of September 2017, LVGEM (China) Real Estate Investment Company Limited, the well-known integrated property developer and commercial property operator in Shenzhen (“LVGEM” or the “Group”; SEHK stock code: 00095), announced that it has signed a strategic cooperation agreement (the “Agreement”) with The Bank of East Asia (China) Limited (“BEA China”) to foster mutual business development.
According to the Agreement, BEA China will offer an all-rounded financial solutions and credit facilities to LVGEM, in order to support the Group’s financial needs, hence facilitate its business development. Besides, this cooperation will raise LVGEM’s influence on cooperation with foreign banks and enhance the Group’s position in the capital market.
Mr. Cartier Lam Chi-man, Executive Director & Chief Executive of BEA China, said, “LVGEM has been our important client stably in the long term, establishing large-scale quality residential and commercial development projects in the Pearl River Delta region for many years. It is the pioneer in the field of urban redevelopment and has accumulated extensive experience in urban rehabilitation and urban redevelopment, with excellent brand reputation in Shenzhen and a leading position in the industry. We are glad and we cherish to step up the cooperation with the Group, with the aim of providing the greatest support to the Group’s business development through BEA China’s quality, leading, and all-rounded financial services.”
Ms. Huang Jingshu, Chairman of LVGEM, said, “We are pleased to establish a strategic partnership with BEA China, who becomes the crucial backing of our project funding and business development. As a quality and extraordinary real estate developer, LVGEM has built up presence in the core areas of core cities, in order to seize the projects with high risk tolerance, high value and high return. Given the Chinese government develops Guangdong-Hong Kong-Macao Greater Bay Area proactively and the Group’s core projects are located in the primary core cities of the Greater Bay area, we will grasp the opportunities, further drive our project development and enhance project value and contribution, bringing encouraging return to shareholders and investors.”
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About LVGEM (China) Real Estate Investment Company Limited
LVGEM focuses on the development of urban quality boutique residences, community-based shopping centers and urban complexes in the prime locations of Shenzhen and the Pearl River Delta region, including commercial projects such as residential properties, offices and shopping centres. The Company owns commercial property series represented by the two main commercial brands “Zoll” (佐阾) and “NEO”. LVGEM possesses abundant experience in urban redevelopment and is a leading integrated property developer and commercial property operator in Shenzhen.
About The Bank of East Asia (China) Limited
The Bank of East Asia (China) Limited was established and registered in China in 2007, as a wholly-owned banking subsidiary of The Bank of East Asia Limited. Given the huge business network established by the mother company, BEA China offers a wide range of financial services to a broad customer base. Headquarter of BEA China is located in Shanghai and it is one of the largest foreign banks with an extensive network in China.
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