FEC Selected to Develop Perth City Link Sites in Australia

HONG KONG, May 2, 2017 /PRNewswire/ -- Far East Consortium International Limited ("FEC" or the "Group") (SEHK: 35) is pleased to announce that the Group has been selected as the preferred proponent to develop Lots 3B, 6 and 7 of the Perth City Link in Western Australia. These three lots will be home to a range of boutique apartments and an integrated retail, entertainment and hospitality complex.

Perth City Link Masterplan
Perth City Link Masterplan

The Perth City Link is a major project being undertaken by the Western Australian Government ("the Government") to reconnect the Perth CBD and the entertainment district (Northbridge) for the first time in more than 100 years. The Government has invested more than A$1.4billion in the project to deliver world-class transport infrastructure and create one of Australia's most unique transit-oriented developments.

FEC will organise a design competition among emerging international and national architects to ensure an exemplary design that offers an appealing residential product for the Perth market and one that complements the adjacent Dorsett Hotel and residential complex. In late 2016, FEC was selected to develop Lots 2 and 3A at the Perth City Link for an A$219million development comprising the 250-room Dorsett Hotel and 350 apartments.

Mr. Chris Hoong, Managing Director of FEC, said: "We are proud that since commencing operations in Australia in the early 1990's the Group has completed over $2billion worth of projects. Perth City Link is a major project undertaking for us in Perth and it is indeed a great honour for FEC to be selected. Another FEC project, The Towers at Elizabeth Quay in Perth, is currently under construction and will result in the 205-room, 5-star Ritz-Carlton Hotel as well as 379 residential apartments. To be selected as the developer of the Perth City Link sites is a great progress for FEC in Western Australia. Together with the two lots that FEC won in late 2016, Perth City Link project will provide our Group with a good pipeline in Perth CBD for the years to come."  

Mr. David Chiu, Chairman of FEC, added: "Perth is a beautiful city and we are very optimistic about its future prospects. The Perth City Link will truly redefine the city due to its design aiming to create transit-oriented developments. Following the completion of the CBD projects, we are confident that Perth will become an even more important destination. For this reason, we look forward to working with the local government to provide more attractive options for local residents and travellers to Western Australia." 

About Far East Consortium International Limited

Far East Consortium International Limited was listed on the Hong Kong Stock Exchange in 1972 (SEHK: 35). The Group is mainly engaged in property development and investment, hotel operation and management, as well as car park and facilities management. The Group adopts diversified regional strategy and the "Chinese Wallet" strategy with business operations covering Hong Kong, Mainland China, Australia, Malaysia, Singapore, the United Kingdom and New Zealand.

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For further information, please contact:

Far East Consortium International Limited
Ms. Venus Zhao, Head of Investor Relations and Corporate Finance
Contact Number: (852)2850 0639

Wonderful Sky Financial Group
Mr. Paul Sham / Ms. Ellie Chen / Ms. Jacqueline Wong
Contact Number: (852) 3970 2170 / (852) 3970 2215 / (852) 3970 2177

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Source: Far East Consortium International Limited
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