Work is scheduled to begin on building the 78,000 m2 residential project on the 1st September 2020 following the signing of an agreement with Country Garden to construct its employee residential project.
The Ninestar employee residential project is located on 78,000m2 of land in Pingsha Town, Zhuhai, near the popular Wenloushan Park. The land was acquired by Ninestar in December, 2019 for CNY 634 million (€78 million / $92 million).
The employee residential project is located 3.5 kilometers away from Ninestar’s high-end Printer Manufacturing Base. Once opened the commute time will be greatly reduced to just 10 minutes.
In a deal recently signed between Ninestar and Foshan based Country Garden, the property development and management company will firstly develop and then operate the Ninestar residential project.
With 125,000 employees and revenues of $33 billion (€27.9 billion), Country Garden, is an experienced developer and operator of residential communities and in 2018 ranked 353rd in the in Fortune Global 500 List.
Ninestar excited about this latest project, said: “Cost of living often is top of mind for talents considering locating for work. Ninestar’s development on this project aims at attracting and retaining more talents by providing them with satisfactory and affordable housing. Ninestar hopes this would result in the company’s sustained success and more happy staff.”
