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Ying Li acquires site in Chongqing for mixed-use project
YING Li International Real Estate has acquired a 199,773-square-metre (sq m) land site in Jiangjin District, Chongqing to develop the first phase of a mixed-use property.
To be developed in at least three phases, the Ying Li International Hardware and Electrical Centre project includes a built-to-order wholesale centre, retail shops, hotel, residential, e-commerce platform and a logistics distribution centre, spanning around 1.32 million sq m. When completed, it will be able to hold up to 3,000 hardware and electrical businesses.
Construction of Phase 1, which consists of retail shops and warehouses, has commenced and is expected to be completed and handed over next year. The total gross floor area (GFA) of the Phase 1 development is about 481,560 sq m.
Ying Li said: "Since the introduction of the project, Ying Li has received overwhelming responses and has received registered interests from more than 800 prospective buyers, representing a sellable GFA of over 350,000 sq m and approximately another 200 strong indicative interest to date."
It plans to speed up the development of Phase 2, given the robust demand.