China Investors Eye Brunei Housing Projects
By Rosli Abidin Yahya

Bandar Seri Begawan - Two investors from Nanning, China arrived Wednesday to set up a jointventure development and investment company in Brunei,

Zhao Zhi Yuan, chairman and general manager of Guangxi Jiuzhou Real Estate Development Co, Ltd and Guanxi Tongbao Trade Co Ltd, said his immediate investment would be the construction of middle low-cost houses on a 20-acre land in Kg Sungai Liang, and a housing development project in Kg Katimahar.

Zhao initially invested RMB 25 million (about B$5 million) for low-cost private housing projects here and in other locations.

With a local partner, Ms Sasha Duraman, they set up Wen Lai Jiuzhou Guoji Mao Ji Tou Zi Holding Sdn Bhd.

Yesterday, the investors went to several government departments to introduce themselves and give a briefing on their plans.

Acting Brunei Muara-District Officer Hj Haris bin Othman welcomed the investors to Brunei and hoped they will find the sultanate an attractive place to invest in.

He advised the investors to go to relevant agencies that will facilitate their investment plans.

Aside from private housing projects, the investors with 20 years construction experience in China also intend to participate in government projects, tourism, development and international trading.

"We are also interested in cultural exchanges between Brunei and China," he said adding their real estate company is one of the biggest in China.

Zhao, with his vice general manager, Xie Bin, said he first knew about Brunei when he visited the China-Asean Expo in Nanning last October.

He met the delegation of Federation of Brunei Malay Entrepreneurs (PPPMB) led by its secretary general, Jeffery Duraman Kassim, who invited him to invest in Brunei..

"I told him I will be opening a joint-venture company in Brisbane, Australia in February so I will stopover in Brunei to see the country first.

"However, before I came here, I asked my Nanning office to do research on Brunei, and whether it is an investment-friendly country.

"The finding was positive and that it is a viable and attractive place to invest so I decided to invest in Brunei and at the same time in Australia," he said. -- Courtesy of Borneo Bulletin

Click Here To Have Your Say On This Story

Brudirect.com News

Brunei's Fastest Growing Website with