Carrianna plans to cooperate in the regeneration of the Greater Bay Area with Sigma and Jun Gao

HONG KONG, Feb. 17, 2022 /PRNewswire/ -- Carrianna Group Holdings Company Limited ("Carrianna", together with its subsidiaries, the "Group"; stock code: 126.HK), is pleased to announce that Carrianna Land Development Limited (Carrianna Land), the direct wholly-owned subsidiary of the Group, plans to cooperate in the regeneration of the Greater Bay Area with Sigma Chi Real Estate Limited and Jun Gao Holdings Company Limited.

According to the MOU, Carrianna Land, Sigma Chi Real Estate Limited and Jun Gao Holdings Company Limited proposed to form the JV Company. Upon the incorporation of the JV Company, the JV Company shall be owned by Carrianna Land, Sigma and Jun Gao as to 60%, 25% and 15% respectively. The JV Company shall be principally engaged in the residential and commercial property developments, property management and consultant services, in particular the regeneration of the older urban areas in the Greater Bay Area.

Mr. Ma Kai Yum, Chairman of Carrianna, said, "We have started the real estate business in 2018 and has achieved outstanding milestones in Mainland China in recent years. Under the historical opportunity of the construction of the Greater Bay Area, with favorable policies for the regeneration of the older urban areas, this cooperation will help us seize the development opportunities. In the future, we will continue to actively participate in the construction of the Greater Bay Area."

About Carrianna Group Holdings Company Limited

Carrianna Group Holdings Company Limited is principally engaged in hotel investment, property development and investment, investments in logistic and trade centres, and restaurant and food business. The Group operates its business mainly in mainland China and Hong Kong under the brand of "Carrianna". Its projects operate in Guangdong Province, Hunan Province, Jiangsu Province and Hong Kong.