Singapore – Mapletree Investments Pte Ltd (“Mapletree”, “the Group”) announced today that it will be developing a modern business park on 400 mu (about 267,667 sqm) of land within Sanshan New City in Nanhai District, Foshan (China). This was announced during a visit to Singapore by a Foshan Government delegation, led by its Mayor, Mr Liu Yuelun. The delegation visited Mapletree where they met with senior management of the Group and toured Mapletree Business City, the Group’s headquarters.

The Sanshan project, named Mapletree Innovation City, will create high-quality contemporary business park space that is supported by modern infrastructure and lifestyle amenities, making it an integrated work-and-play environment. It is well-suited for companies offering outsourcing (BPO/ITO) services, back-room operations of financial institutions as well as headquarters of companies. Construction is expected to commence in 2013 and complete by 2017.

Mapletree Innovation City enjoys an excellent geographical location served by modern and efficient transportation hubs such as the Guangzhou South Railway Station and Guangzhou Baiyun International Airport. Its location within Sanshan New City is also strategic as it is mid-way between Guangzhou and Foshan, the two large growth engines of the Pearl River Delta region. Companies and businesses seeking to tap opportunities arising from the urbanisation, integration and redevelopment of Guangzhou and Foshan will find Mapletree Innovation City a compelling location for their operations. Strong support from the local government will be offered in the form of business-friendly tax and incentive policies for companies located in Mapletree Innovation City, thereby accelerating growth for these companies and for Sanshan New City itself.

Commenting on the significance of the project, Mapletree’s Group Chief Executive Officer Mr Hiew Yoon Khong said, “China is a key market where we are scaling up substantially. We are delighted to bring our experience in developing and managing business parks in Singapore and across the region to Foshan. The integrated office and business park development will be Mapletree’s first in the city and we are confident that Mapletree’s reputation in providing high quality business hubs for ‘work and play’ will attract progressive and high value-added enterprises to locate their offices to the business park.”

“The development of Mapletree Innovation City also underscores our continued interest to further invest in Foshan. Through the development Nanhai Business City (NBC), a 42-hectare mixed-use project in the same district, Mapletree has gained a deeper understanding of the region and is confident of its growth potential.”

In 2010, Foshan’s GDP increased by 14 % to RMB 565.1 billion, ranking 11th in China, and 3th in Guangdong province . The city offers a conducive business environment with competitive operating costs and strong government support. With Foshan’s economically vibrant landscape, the demand for good quality real estate is expected to remain strong.

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