Legend Enters Property Arena

Legend Group Holdings Co is planning a major investment in an information technology park in Zhongguancun.

The Raycom InfoTech Park occupies an 80,000-square metre area in the heart of Zhongguancun, with a total floor space of 40,000 square metres.

The first tower of the park is scheduled for completion by the end of this year.

"With dozens of universities and research academies in Zhongguancun, the park has attracted the most innovative enterprises and entrepreneurs in Beijing and boasts the highest density of professionals in China," said Chen Guodong, vice-president of Legend Group and general manager of Raycom InfoTech Park.

As China's largest computer maker, Legend is now seeking to expand into higher profit areas of the technology sector.

"Legend Group will take the lead in the effort to bring a bright future for Zhongguancun," said Chen.

Analysts said that Zhongguancun faces stiff competition from other areas in Beijing, particularly the city's Central Business District.

But Chen believes that with government support, the infrastructure and living conditions in Zhongguancun can be further improved.

He predicted leading international companies and smaller-sized domestic and international companies will soon flock to the area.

As part of the initial efforts to improve the infrastructure of Zhongguancun, about 2 billion yuan (US$240 million) will be poured into the construction of the park. Legend plans to take the lead in developing Zhongguancun, the company's birthplace.

The park's first tower is designed to make the most of natural lighting and ventilation, according to the park's architects with US-based Skidmore Owings & Merrill LLP Company.

The second floor of the building is designed specially to house computer servers, allowing tenants to share facilities for significant cost savings.

"Wireless offices or movable offices are the future, and Raycom has taken these advances into consideration in the building design," said Chen.

The park also provide various entertainment facilities.

"We'll tailor our building and facilities to best satisfy any individual demands of the clients," he said.

Chen is confident that once the building is completed, many world-leading companies will become tenants.






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