HONG KONG--(BUSINESS WIRE)--Grand Field Group Holdings Limited (“Grand Field” or “the Company”, together with its subsidiaries, the “Group”) (SEHK:115) is pleased to announce that the Company’s “Zongke Cloud” Project” (“妫曠闆茬闋呯洰”), a property complex in Buji, Longgang District, Shenzhen, has commenced construction. The Group has recently held a presentation for its investors and customers.

The project is funded by Grand Field and is developed by Shenzhen Zongke Real Estate Co.,Ltd (a subsidiary of the Company), and is scheduled for completion by the end of 2018. The project has an area of 23,000 sq m with total floor area of 180,000 sq m. According to Roma Group Limited, valuation of the land by the end of 2015 was RMB 1.82 billion. Upon completion, the project will become a complex of commercial, service apartments, lofts and high-end residential property. Price of the lot has been settled. The Property is in possession of State-owned Land Use Right Certificate, Land Use Permit and Design of Construction Project.

Located in the North of Lo Wu, Shenzhen, the “Zongke Cloud” Project sits on the south of Xihuan Road, Buji Town, Longgang District, which is one of the three biggest core district in Shenzhen. The project is next to Wenbogong, Yinhushan, Lantatu Peak, and the Qingshuihe International Logistics Park which is under construction. It is a mature zone with comprehensive supporting facilities. The project is conveniently situated between Shenzhen East Railway Station and Caopu Station, which is near to the Qingping Expressway with various public transportation to other key areas in the city. The Qingshuihe Station, which is a part of the Shenzhen Metro No. 14 Express Railway Planning, will be a merely 3 minute walk from the project. A public transportation hub will also be constructed within the project.

Mr. Kwok Siu Bun, Executive Director of Grand Field, said “since the expansion of the Shenzhen Special Economic Zone is 2010, the custom of Longgang District has been cancelled, which has brought huge development potential to the region. Property near the core economic region has seen a rising occupancy rate and surging property prices. Upon its completion, we expect the “Zongke Cloud” Project will become an iconic property project in the region and bring remarkable income for the Company.”

About Grand Field Group Holdings Limited

Grand Field Group was established in 1990 and listed on the Main Board of the Stock Exchange of Hong Kong in 1999. The Group is mainly engaged in property development and international trading business. Grand Field is one of the first foreign capital enterprises to enter into the property market in the PRC, and has completed a series of iconic projects since the 90s, including Elegance Garden, Rado Garden and Telford Garden. In 2015, the Group has diversified into international trading business, which includes the distribution of milk powder from Germany and New Zealand, a food brand from New Zealand and diary and meat products. The Group has business ventures in Hong Kong, Shenzhen, Dongguan and New Zealand.