Sino Express Travel Invests In Chengdu Property
Sino Express Travel Invests In Chengdu Property
Sino Express Travel Limited has announced that it has signed the acquisition agreement for a 1,445 square-meter property in Chengdu, Sichuan Province for USD2 million based on the agreement, USD200,000 will be paid in cash and the balance by the issuance of restricted common shares of Sino Express Travel, subject to satisfactory due diligence. With the acquisition Sino Express Travel Limited will be able to expand its portfolio of hotels to include Sichuan Province.

The Chengdu property is for renovation into hotel suites with restaurant and bar facilities to serve the increasing tourism and technology businesses in the area. The Chengdu Property is in Pixian County, site of an ancient capital city and Chengdu s technology industrial park. A regular flow of tourists are expected due to the attractions that include the ancient capital city ruins, temples, cultural relics and tombs. Western investors have funded a considerable part of the technology industrial park.
Sino Express Travel Limited Backgrounder:
An investor and developer of tourist spots and destinations in China, Sino Express Travel Limited is planning to acquire and operate a diversified portfolio of resort hotels and tourist attractions. It is searching for assets with scenic, cultural and historical value and with high potential for further development, at suitable locations in China
Disclaimer:
Some information presented in these materials are “forward-looking” information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. As such, they are subject to known and unknown risks and uncertainties, many of which are outside of the control of the company. Consequently, actual results may, and probably will, differ from the projected result. http://www.chengdu-housing.com/aboutus.asp