Carnival Group International introduced Sun Hung Kai, the Kwok family to jointly develop a high-end comprehensive project in Vancouver

(21 December 2017 – Hong Kong) On September 26, Carnival Group International Holdings Limited (“Carnival Group International” or the “Company”; stock code: 996.HK) was pleased to announce that it would invest CDN$245 million to construct a high-end residential project in the essence area in downtown Vancouver, Canada. After that, it announced on 15 December that it would further introduce Aspac Alberni Developments Ltd. (“Aspac Alberni”), a private investment company of the Kwok family in Canada, as a strategic investor of the project. Aspac Alberni is a connected company of Aspac Developments Limited (“Aspac”).

Aspac, the project development manager of the project and a world-class and high-end residential developer based in Vancouver, has been dedicated to building top-tier and high-end residence and districts since 1993. Being a magnate in the property industry in Asia with strong capability, Aspac introduced its professional techniques and experience accumulated over the years to Vancouver, successfully developing internationally renowned seaside residential community, including (Coal Harbour) Waterfront Place and Harbour Green Place and five-star luxurious community such as River Green, which were regarded as the most valuable community in Canada.

The project was located in the West End of Vancouver, Canada, the center of the city with an area of approximately 41,573 square feet. There will be tremendous potential of development in the future given the rare land parcel with convenient transportation. The project is adjacent to various high-end commercial and top-notch luxurious residential area with comprehensive supporting infrastructure. In recent year, West End of Vancouver, being the most sumptuous section in Vancouver, has become the current rapidest development hotspot area in Vancouver. Currently, the average price of properties nearby the project available for sale amounts to approximately CDN$2,500 per foot.

The joint cooperation with Aspac Alberni for strategic layout of Vancouver in Canada is an important step for Carnival Group International to tap into the overseas market. “The project is situated in the West End in the Golden area of downtown Vancouver. The Company strives to develop high-quality and high-end comprehensive project. We believe that the project will lay a foundation for boosting International diversified development of the Company in the future. Meanwhile, participation of the Kwok family from Sun Hung Kai Properties, with its robust capability and professional experience, will develop the project to become another high-quality classical community, creating greater return for shareholders”, the board of directors said.