JuneYao will invest 5.5 billion yuan to take part in the renovation of Yichang Old Town
ReleaseDate: 2013-05-17

On April 28, President of JuneYao Group Wang Junhao successfully signed “Yichang City South Huancheng Road Precinct Old Town Renovation Project” agreement with Yichang Municipal Government on behalf of the Group at the “Yichang New Area-Wuhan Project Cooperation Promotion Meeting”. This Project is located at the central downtown area in Yichang City, with a planned floor space of up to 600,000 sqm, and an investment of 5.5 billion yuan. This marked a major project of JuneYao Group in cooperation with Yichang municipal government to participate in Yichang’s ultra large scale urban construction.

The South Huancheng Road plot surrounded by South Huancheng Road, Yanjiang Avenue and Xueyuan Street is the core zone in Yichang Old Town area, and also the area which can best represent Yichang’s old town landscape. The old town renovation project will build imitated ancient civilian residence cultural street, reflect the architectural elements of Er Ya Terrace, Bright Moon Terrace, Ink Washing Pool, Mochi Academy, and develop the area into a multi-function complex integrating historical scenery tourism business street, residential building, commercial and office tower, aiming to develop commercial street blocks capable of both reflecting Yichang’s history, culture, folk custom, and featuring modern commerce, entertainment, and leisure functions.

It has been learned that in order to develop Yichang City into ultra large city, it started planning for Yichang New Area as early as in 2011, in February 2013 Hubei Provincial Government approved its plan, which will transform Yichang into “Large and powerful, excellent and beautiful” modern ultra large city, in order to fulfill the scale target of “235”, namely “reaching 200 sq km and 2 million permanent residents in the short term namely at the end of the ‘Twelfth Five Year Plan’ in Yichang urban area; Striving to reach 300 sq km, 3 million permanent residents by 2020; 500 sq km, 5 million permanent residents in the long term.

According to relevant info, since 2000, JuneYao Group has invested more than 1 billion yuan in Yichang City to build dairy base and Yichang JuneYao International Plaza, which provided over 6000 jobs to the local job market.