HOHHOT, China, Oct. 22 /PRNewswire-Asia/ -- Gold Horse International, Inc., (OTC Bulletin Board: GHII) ("Gold Horse" or "the Company"), a multifaceted business group that controls and operates a construction company, real estate development business and a hotel in Inner Mongolia, China, today announced one new real estate development project and one new construction project, scheduled to commence this fall and reach completion by year-end 2011.
Mr. Yang Liankuan, Gold Horse CEO, explained: "The Tianti Housing Project, a construction project with our construction segment acting as general contractor, will consist of seven residential buildings with a total construction area of 90,606.65 square meters. Officially underway last month, the anticipated completion date is December 2011, with total estimated revenue of $26.4 million and estimated gross profit of $3.4 million.
"Our next project, Shuian Renjia, will be developed by our real estate business in cooperation with our construction company who will act as general contractor, an example of a project under our new integrated business model.
"Shuian Renjia is located at the south part of East Xinhua Street in Hohhot, and will consist of two buildings each with 17 floors and a total of 364 apartments. The total development area will amount to 56,841.2 square meters.
"The Shuian Renjia project is expected to be completed by May 2011 and requires a total investment of 140 million RMB or about $21 million. The successful completion of this project is expected to yield revenues of 220 million RMB or $32.9 million.
"We are proud of the performance of Gold Horse in the past fiscal year, and we believe the Company is on track for an equally good or superior 2011. Western China remains the best location for growth and development in all of China, and Gold Horse is a leader amongst developers in this dynamic region," concluded Mr. Yang.
About Gold Horse International, Inc.
Gold Horse International, Inc., through its wholly owned subsidiaries, Gold Horse International, Inc. (Nevada) and Global Rise International Ltd., controls and operates Inner Mongolia Jin Ma Construction Co., Ltd., Inner Mongolia Jin Ma Hotel Co., Ltd., and Inner Mongolia Jin Ma Real Estate Development Co., Ltd., all based in Hohhot, the regional capital of Inner Mongolia Autonomous Region in China. Jin Ma Construction has been providing construction and general contractor services in Hohhot to both private developers and to the local and regional governments since 1980. Jin Ma Hotel owns, operates and manages the Jin Ma Hotel, a full-service, two-star hotel and restaurant/banquet facility located in Hohhot. Jin Ma Real Estate develops residential and commercial properties in Hohhot. For more information on the Company, visit http://www.goldhorseinternational.com. Information on the Company's Web site or any other Web site does not constitute a portion of this release.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties such as cost overruns, lack of materials, projected earnings not realized and other risks of construction that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its Web site (http://www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Gold Horse International, Inc.
Mr. Adam Wasserman, CFO
Phone: +1-800-867-0078 x702
SOURCE Gold Horse International, Inc.