China Merchants Shekou and Poly Developments and Holdings join forces to build high-end commercial complex in Wenzhou, China
NEW YORK, Oct. 12, 2021 /PRNewswire/ -- On October 10, 2021, the project name launch ceremony for Majestic Mansion, a large-scale high-end commercial complex under joint development by China Merchants Shekou Industrial Zone Holdings Co., Ltd and Poly Developments and Holdings Group Co., Ltd., was held simultaneously at Times Square in New York and Oujiang Night Tour-Light and Shadow Auditorium in Wenzhou, China. The event was attended by several big names: Pan Changwang, former Vice Chairman of Wenzhou CPPCC; Professor Ma Jinlong, renowned economist and former Director of the Policy Research Office of Wenzhou Municipal Committee; and Wang Dongsheng, Vice Chairman of the Wenzhou Chamber of Commerce. Luminaries from the financial and real estate sectors as well as executives from Wenzhou’s leading businesses came together to witness the birth of the city’s new business district.
China Merchants Shekou Industrial Zone Holdings Co., Ltd is the flagship company for the development and operation of integrated urban projects under China Merchants Group. With a history going back some 100 years, China Merchants Group is by far the oldest among China’s large-scale firms and is affiliated with the State-owned Assets Supervision and Administration Commission of China. The total assets of the Group rank first among enterprises directly under the central government. Poly Developments and Holdings Group Co., Ltd. is a large listed company controlled by China Poly Group. China Poly Group Corporation Ltd. is a large-scale central state-owned enterprise under the supervision and management of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). Following the approval of the State Council and the Central Military Commission of the P.R.C., the Group was founded in 1992. With this tie-up, the two firms are pooling their unique talents to build an architectural masterpiece that is sure to put Wenzhou on the map in terms of unique real estate developments while showcasing their combined expertise in matters of construction, aesthetics and design.
The Majestic Mansion is located in the 2.2 square-kilometer Wenzhou Binjiang central business district, and has already signed up several financial organizations across southern Zhejiang province who have agreed to set up operations here. Along with meeting and exhibition resources that will become available through the project’s Urban Balcony, Civic Center and International Convention and Exhibition Center, Majestic Mansion will further enhance the advantages of the district. The 600,000 square-meter facility will be comprised of a large-scale waterfront lifestyle complex and a grand residence for Wenzhou’s high net worth individuals, where East meets West in business.
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SOURCE China Merchants Shekou Holdings