Boustead Projects

[Muck]

3. After Tripleone, naturally we will be asking about Tongzhou.
However, there's no update on the development.
From my understanding, it is yet to start development and has been delayed from the 2017 completion date as described in previous announcement.
The absolute return percentage wise should be better than Tripleone, but XIRR wise I have no idea since we don't know when it will be completed or ever be.

http://perennialrealestate.listedcompany...LPUR.2.pdf

 Construction works continued to progress well on-site but the overall schedule was delayed in the process of receiving the necessary construction permits. 
 Construction permits have been obtained for two plots, with the remaining four plots expected to be received by 2Q 2017. 
 Beijing Tongzhou Integrated Development Phase One and Phase Two are expected to complete in 2020 and 2019 respectively. 

The first batch of Beijing municipal government administrative offices is expected to move to Tongzhou District by the end of 2017.
  Beijing Tongzhou Integrated Development is now only 20km from the Beijing Capital International Airport with the completion of Bifu Road on 12 December 2016, serving as the shortest route from Tongzhou District to the airport. 
  Further plans to improve the infrastructure includes the building of tertiary institutions and acceleration of resettlement and amenities development.
  Construction for seven road projects, stretching some 75 km, and eleven new infrastructural projects, including bridges and bus lanes, will start in 2017.
  Beijing Tongzhou district will enjoy enhanced accessibility and connectivity with a planned rail network featuring inter-city, suburban and urban lines.

I read that as well, it is mentioned that phase 1 (the one BP has interest in) completion will be later than phase 2, in 2020.

When i relate to "Construction permits have been obtained for two plots, with the remaining four plots expected to be received by 2Q 2017."
We can sort of guess ya?

I'm not sure what more to make of it. Each phase consists of 3 plots. Previously it was mentioned that each phase was only lacking 1 of 4 construction permits. In any case, it's already a 4-year delay from first announcement, based on the current 2020 target for phase 1.

Waiting patiently

<vested BSL & PREH>