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GD Int'l Building Finally Finds new Owners
Latest Updated by 2007-02-02 08:56:16

The Guangdong International Building (also know as the 63 Stories) finally has its ownersGuangdong Yi Tao Group Co., Ltd together with some other companies. The new owners signed on with Guangdong International Trust and Investment Company (which was bankrupted in 1998) on Tuesday. With an area of 18997.6 square meters and a height of 200 meters, the 63-story building was put into service in 1986. It was the highest building of Guangzhou at that time and located in the busiest street C Huanshi Dong Rd.

The Guangdong International Building was put up for auction three times and finally sold for 1.13 billion Yuan (about 145 million USD not including the auction commision) on Oct. 18th of 2002. Now all the money has been paid and debate between the former and new owners has ended.

The building will be rearranged. The 1st and 2nd floors will be transformed into a shopping mall. Guangdong International Hotel which is inside the building will be refurbished and opened to the public in the near future.

Editor: Donald

By: Source:www.lifeofguangzhou.com
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