China HGS Real Estate Inc. (HGSH) Yangzhou Pearl Garden Phase III Project Receives Better than Expected Residential/Commercial Unit Presales
China HGS Real Estate, a national grade II real estate-qualified developer focusing on Tier-III and Tier-IV cities in China, reported excellent sales today of units at the Company’s recently opened Yangzhou Pearl Garden Phase III Project in Shaanxi Province’s Yang County. The Company, which was ranked by market share to be the No. 1 property developer in Hanzhong (Shaanxi Province) for 2007-2009, conducts substantially all of its business via wholly owned subsidiary, Shaanxi Guangsha Investment and Development Group Co., Ltd. The Pearl Garden III project began construction in March 2010 and the Company expects to finish all pending construction activities…