YABULI, China, Sept. 17 /CNW/ - Melco China Resorts (Holding) Limited (TSXV: MCG) ("Melco China Resorts", "MCR" or the "Company"), is pleased to announce that it has topped out the first 71 homes at its Yabuli Resort. An official ceremony marking the occasion of completing all shell and roof structures for the only luxury, ski in ski out resort homes in all of China was attended by senior executives of the Company, Heilongjiang provincial government dignitaries, and members of the business community.
"We are very excited that we have been able to progress the construction of these exceptional vacation homes," commented Graham Kwan, CEO of MCR. "We are currently in discussions with a number of prospective buyers. These homes are the first of their kind being offered in China and we anticipate interest will build as we move through our first full ski season at Yabuli with all of our new, first class amenities and resort facilities."
In February 2009, MCR's Yabuli Resort was awarded Best Resort Makeover in all of Asia by TIME Magazine following the completion of the new hotels, spa, dining and ski facilities at the Yabuli Resort at the beginning of this year. The resort vacation homes are sited as premier slope side accommodations and have direct access to all of the resort's new amenities. Homes average 275 square metres (3,000 square feet), over three levels, with both three and four bedroom configurations, European kitchens, open plan living and dining areas, and expansive windows and decks overlooking the resort. Buyers can select from three different interior options.
About Melco China Resorts
Melco China Resorts is the premier developer of four season destination ski resorts in China. Melco China Resorts is transforming existing China ski properties into world-class, four seasons luxury mountain resorts with excellent real estate investment opportunities for discerning buyers. In February 2009 the Company's Yabuli Resort was awarded Best Resort Makeover in Asia by TIME Magazine. Melco China Resorts' leadership team boasts a proven record of resort development success both internationally and in China. www.melcochinaresorts.com
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FORWARD LOOKING INFORMATION
Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws, and actual results may vary from the forward-looking information. Implicit in this information are assumptions regarding future operations, plans, expectations, anticipations, estimates and intentions, such as the plans to develop the ski resorts in China and the ability of the Company to satisfy the conditions to closing of the Private Placement. These assumptions, although considered reasonable by Melco China Resorts at the time of preparation, may prove to be incorrect. Readers are cautioned that actual future operating results and economic performance of Melco China Resorts are subject to a number of risks and uncertainties, including general economic, market and business conditions, uncertainty relating to land use rights, adverse industry events for the ski and real estate industries, Melco China Resorts' ability to make and integrate acquisitions, the requirements of recent Chinese regulations relating to cross-border mergers and acquisitions, the inability to obtain required approvals or approvals may be subject to conditions that are unacceptable to the parties, changing industry and government regulation, as well as Melco China Resorts' ability to implement its business strategies, dispose of assets or raise sufficient capital, seasonality, weather conditions, competition, currency fluctuations and other risks, and could differ materially from what is currently expected as set out above.
Forward-looking information contained in this press release is based on current estimates, expectations and projections, which Melco China Resorts believes are reasonable as of the date of this press release. Melco China Resorts uses forward-looking statements because it believes such statements provide useful information with respect to the operation and financial performance of Melco China Resorts, and cautions readers that the information may not be appropriate for other purposes. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Melco China Resorts may elect to, it does not undertake to update this information at any particular time.
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SOURCE MELCO CHINA RESORTS (HOLDING) LIMITED
For further information: For further information: Melco China Resorts, Investor Relations, Kevin O'Connor or Ali Mahdavi, Tel: (416) 962-3300, Fax: (416) 962-3301, Email: firstname.lastname@example.org