By Nikki De Guzman:
Around 60 Singapore companies have poured in US$850 million (S$1.07 billion) worth of investments into the massive Sino-Singapore Tianjin Eco-City project.
Master developer Sino-Singapore Tianjin Eco-City Investment and Development announced this at a recent investment seminar where four Singapore firms signed leasing agreements to set up offices in the eco-business park.
The developer also signed a deal with the Singapore and Tianjin branches of the Bank of China (BOC), whereby the bank will provide financial support and services to Singapore companies looking to enter the Eco-City in the next three years.
“The Tianjin Eco-City carries the important mission of exploring a road for sustainable development, which differentiates it from other economic function districts,” said Yang Zhize, Vice Chairman of Sino-Singapore Tianjin Eco-City Administrative Committee.
Ho Tong Yen, Chief Executive at Sino-Singapore Tianjin Eco-City Investment and Development, added that there are “more than 3,000 residents, 4,000-5,000 people working in the Eco-City and around 900 registered companies in the Eco-City”.
Meanwhile, International Enterprise Singapore said that bilateral trade between Singapore and China increased 11.8 percent to S$2.7 billion in 2012. “Last year, Singapore’s actual investments in Tianjin saw a 23.2 percent increase over 2011, reaching S$1.1 billion with 27 projects.”
Image: Artist’s impression on the Tianjin Eco-City project.
Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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