HONG KONG, Aug. 24, 2016 /PRNewswire/ -- Far East Consortium International Limited ("FEC" or the "Group"; SEHK: 35) is delighted to announce that the Group has signed a contract to purchase a key section of the Western Australia Government's Perth City Link project ("The Project"). The mixed-use development located adjacent to the Perth Arena will deliver more than 350 residential apartments and 250 hotel rooms managed by Dorsett on two prime lots. It is a major project being undertaken by the Western Australian government to reconnect the Perth CBD and the entertainment district (Northbridge) for the first time in more than 100 years. FEC intends to progress the planning and construction for its development at Perth City Link during 2016/17.
As one of the largest property developers in Melbourne with more than 20 years of operation in Australia, FEC has a proven track record in being able to combine international experience and local expertise to deliver multi-billion dollar mixed-use landmark projects, such as West Side Place in Melbourne, The Towers at Elizabeth Quay in Perth, and Queen's Wharf integrated resort in Brisbane. The Project came just weeks after FEC turned the sod on its other major development in Perth, the Towers at Elizabeth Quay, which features The Ritz-Carlton hotel and is expected to be completed in 2019. Beyond Australia, the Group has also established its reputation in the world market. Dorsett Shepherds Bush Hotel in London performed very well since it opened two years ago. The Group was recently appointed to develop key sites in Angel Meadows in Manchester, United Kingdom, a scheme that will deliver more than 600 new homes as part of the NOMA neighborhood and reinvigorate the historic Angel Meadow Park.
Mr. David Chiu, Chairman of FEC said: "The Group is very confident that the rapid growth of Asian visitors to Australia will continue and, in particular, we expect the beautiful city of Perth will become an important destination after its CBD projects are completed. We are committed to building exciting inner city living opportunities and the Perth City Link location has fantastic connection to food, entertainment and public transport options as well as being within walking distance to the office precinct. These are key ingredients for potential residents."
About Far East Consortium International Limited
Far East Consortium International Limited was listed on the Hong Kong Stock Exchange in 1972 (HKEx stock code: 35.HK). The Group is mainly engaged in property development and investment, hotel operation and management, as well as car park and facilities management. The Group adopts diversified regional strategy and the "Chinese Wallet" strategy with business covering Hong Kong, Mainland China, Australia, Malaysia, Singapore, the United Kingdom and New Zealand.
About Perth City Link
Perth City Link is one of the city's most exciting redevelopments. The area was once just a network of bus and train connections, but, when finished, will become an exciting new destination with housing, shops, restaurants, offices and more. The train line separating Perth and Northbridge has always allowed easy access to the city, but it limited the growth of the CBD to the north. Sinking the rail line and the Bus Station has created 13.5ha of space and a wealth of exciting new possibilities.
FEC official website:
For further information, please contact:
Far East Consortium International Limited
Ms. Venus Zhao, Head of Investor Relations and Corporate Finance
Contact Number: (852)2850 0639
Wonderful Sky Financial Group
Ms. Alice Wang
Contact Number: (852)3970 2136
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SOURCE Far East Consortium International Limited