SINGAPORE - A Memorandum of Understanding to develop the Singapore-Sichuan High Tech Innovation Park was signed on July 2.
Hong Leong Group Singapore was among the four companies who signed the agreement.
The commitment to set up serviced apartments, retail units and residential apartments in the park was made by Hong Leong Group Singapore Executive Chairman Mr Kwek Leng Beng on the same day that M Hotel Chengdu was inaugurated.
Mr Kwek said, "Singapore has fostered a strong relationship with China by helping local enterprises invest and do business in China for the mutual benefit of both countries. Today, we witness an example of this strong relationship."
"We will continue our commitment here in Sichuan, both as an investor and a partner," added Mr Kwek who is also Chairman of Millennium & Copthorne Hotels (M&C), a member of Hong Leong Group.
The project in Singapore-Sichuan Hi Tech Innovation Park is spearheaded by First Sponsor Capital Limited (FSCL), an associate of Millennium & Copthorne Hotels (M&C). FSCL's latest venture in China is the 196-room M Hotel Chengdu, which is part of the Chengdu City Spring mixed development.
M Hotel Chengdu is the second such hotel in the world, after the first M Hotel was launched in Singapore in 2000.
FSCL is also undertaking a US$1 billion project located in Chengdu's Wenjiang district.
When completed, the Millennium Waterfront International Community will boast more than 7,100 residential apartments, offices, and retail commercial space of about 1.9 million square metres.It will also house the group's largest Millennium Hotel in China - Millennium Waterfront Hotel Chengdu - with an adjoining convention centre.
M&C, Asia's leading international hotel group, first entered the Chinese hospitality market in 2006. With the latest addition of M Hotel Chengdu, the group now has a total of eight properties - Millennium Hotel Chengdu, Millennium Harbourview Hotel Xiamen, Millennium Hongqiao Hotel Shanghai, Millennium Hotel Wuxi, Copthorne Hotel Qingdao, the luxury Grand Millennium Beijing Hotel, and a serviced apartment complex, Millennium Residences Beijing Fortune Plaza.
Hotels in the pipeline are Millennium Fuqing in Fujian and Millennium Hangzhou Resort in Zhejiang.
M&C has a total of 12 properties in the Greater China region. This includes Millennium Vee Hotel Taichung, Taiwan, which officially opened its doors in March this year. M&C is a dynamic, global hotel company that owns, asset-manages and/or operates a worldwide portfolio of over 100 hotels with distinct global brands.
Listed on the London Stock Exchange since 1996, M&C is a subsidiary of City Developments Limited (CDL). Both M&C and CDL are members of the Hong Leong Group Singapore.