Major strategic shift to overseas real estate investment

Group’s U.S. subsidiary company ProsPac Holdings Group acquired two adjacent parcels in Honolulu in 2016, this acquisition is consistent with Group’s business and investment objectives to continue further development for both domestic and international business of Golden Group. This development project is approved by Honolulu city council at the end of February, 2018 after two years of entitlement efforts. The project will be 400 feet tall with FAR of 9.9, which exceeds original city zoning allowance. The total investment for the project will be approximately $300M, with total buildable area of more than 700,000 square feet. The project is well situated in urban core of Honolulu with convenient public transportation, only one block 2 minutes away from Ala Moana Mall, world’s largest outdoor mall; and 200 meters away from the destination of city planned $8 billion high speed rail system. The project is expected to break ground in 2019 and complete in 2021. After completion, the tower will consist 41 floors and 411 units, with 26,000 square feet of commercial. Chen Xianxin, the Chairman of Golden Group, stated that “ This is our first project in the United States. To us, it represents our chances to show case ProsPac’s ability to deliver excellence to our community and our patrons. As an established company with global background, we bring a global perspective and vision that guide our local innovation and development. We will share our success with our partners who believed in our vision and did everything possible to turn it into reality.


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