| For Immediate Release | March 26, 2014 |
Far East Consortium International Limited (stock code :035, "FEC") today (26) and The Ritz-Carlton Hotel Company have reach on agreement for the development of The Ritz-Carlton, Perth Australia.
Located on the eastern side of Elizabeth Quay, the luxurious Ritz-Carlton Hotel will be the centerpiece of the new Elizabeth Quay development at Perth's waterfront and will include a limited selection of 400 units of unique residential apartments which will be offered for sale off the plan. The project will include ground floor retail shopping opportunities, restaurants and all the services and facilities that have made The Ritz-Carlton a global household name. The iconic international hotel and resort chain has committed to a 204 rooms, luxury property, making the brand's return to the Australia market for the first time in a decade.
Works on the development are scheduled to commence in 2015, with doors of the the Ritz-Carlton expected to open in 2018.
Far East Consortium Chairman, David Chiu, said he believes the development is a key part of the Elizabeth Quay project and that if would quickly become on iconic part of Western Australia's tourism landscape. FEC are privileged to have been selected as the Developer of the property and look forward to creating a set of landmark building on the Perth waterfront which will herald Perth's arrival as a world class city.
Mr. Chiu congratulated the State Government on its foresight in developing such an amazing waterfront opportunity, bringing the river into the city.
| Issued by | : | Far East Consortium International Limited |
| Distributed through | : | Fidelity Communication Company |
| Enquiries | : | Miss Kat Chow, PR Officer of Far East Consortium Int'l Ltd. (Tel: 2850-0600, 2850-0625) Mr. K.L. Lui of Fidelity Communication Company (Tel: 2525-2313) |
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