CREO’s Chinese property holdings hit €872.4m

IRISH property company China Real Estate Opportunities Limited has seen its property holdings in China increase in value to €872.4 million, an increase of €70m in just six months.

CREO’s market capitalisation on the AIM market in London stands at £408m (€546.75m).

Treasury Holdings-linked CREO is forging ahead with plans for further developments in China. Last month it bought a 50% interest in two sites in Tangdao Bay, Qingdao for close to €19m. The development at Qingdao, the site of the sailing events for the 2008 Beijing Olympics, is a single integrated project comprising residential, retail and hotel. It is expected to have a completion value of close to €500m when construction is completed over the next two years or so.