Sandy Li
30 January 2008
South China Morning Post

Shui On Land has agreed to develop a tourist and leisure resort in
Yunnan's Shangri-La county at an estimated cost of five billion yuan.

It said the total planning area under the project would be 1,773
hectares including a protection area of 966 hectares and a buffer zone
of 349 hectares. The project is expected to have a gross floor area of
760,000 square metres.

The site is located in Ming Jun, Xiao Zhong Dian town, Shangri-La
county, capital of the Diqing Tibetan Autonomous Prefecture of Yunnan.

A non-legally binding memorandum of understanding was signed with the
government of Diqing Tibetan Autonomous Prefecture. No other details of
the project were given.

Shangri-La stands on the southern edge of the Qinghai-Tibetan Plateau,
in the hinterland of the Hengduan Mountain range, near the borders of
Yunnan, Sichuan, and Tibet.

The company, chaired by Vincent Lo Hong-sui, has been actively acquiring
land on the mainland.

Last month, it bought a 640,000 square metre site in Foshan, Guangdong
for 7.5 billion yuan, marking its first foray into the southern
province. The company plans to build a 1.5 million square metres of
residential and office space as well as retail, restaurant,
entertainment, tourism and cultural facilities on the site.

Shares of Shui On rose 6.67 per cent to close at HK$7.99 yesterday.