To: Bobby Berry who wrote (3166 ) 3/1/1999 12:15:00 AM From: jmhollen Respond to of 7209
SOME HISTORICAL PERSPECTIVE: (Real Estate not an active effort today) ******************************* Building a new China Late last year, a Newport Beach businessman from Largo Vista Inc. traveled to China with plans to get a $5.2 billion proposed city off the ground. Largo Vista CEO John A. Jones [..NO LONGER WITH THE CORPORATION..]is back in China working on the financing part of the giant undertaking, a spokesman says, along with work on other projects such as a residential community and a communications satellite network. The multi-billion dollar project would be as big as the Irvine Spectrum and include financial and commercial centers, a marina, residential apartment complexes, hotels, an amusement park and sports complex. Jones is working with the Chinese government to turn an undeveloped, waterfront piece of land 40 miles north of Hong Kong into one of the jewels of the developing country. And he wants to do it the capitalistic way in the city of Shenzhen. The area is within a special economic zone that the Chinese created more than a dozen years ago to introduce capitalism. Largo Vista officials say there are 7,000 companies, both joint ventures and foreign businesses, within a 40-mile strip between Hong Kong and Shenzhen. It is this region that many predict will be the new economic center when the British give Hong Kong back to the Chinese in 1997. And Largo Vista Inc. officials hope to leave their imprint there and elsewhere. Jones has several potential projects going throughout the country, including a housing tract with manufactured homes, a movie museum and airport improvements. "We will be shipping four model homes over there and will send engineers to do site plans" for the housing complex, says Daniel Mendez, Largo Vista executive vice president. "We're very pleased. We're moving ahead at our own speed." ************************************** When it becomes practical and profitable, Dan, Deng, and the Board can pick up the torch on the real estate development efforts - without having to suffer through the learning curve experienced before. It is certainly my hope that LGOV takes the tried and true position of Procter & Gamble and other successful conglomerates - and pursues providing many subjects that address the people of China's daily needs. John :-)