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HUALING GROUP’s PROFILE

 

Hualing Commerce, Industry & Trade (Group) co. Ltd, the new shareholder of the Bank, is a private enterprise group established in 1988. The Group operates in many different areas, more specifically focuses on the commodities wholesale market (rental and management services), and diversifies into international trade, development of modern livestock slaughter industry, logistic transportation, constructions, hotel, tourism etc.

 Hualing first entered Georgian market in 2007 and invested in local forestry exploration, wood processing and mining. Hualing Group established the “Free Industry Zone” in Kutaisi in 2009, with ongoing construction of infrastructure facilities and installation of equipments. Hualing Group will establish a large-scale modern commerce market and launch the Hualing International Special Economic Zone Project.

 In 2011 the group decided to enter the Georgian financial market. The key stimulus for the decision was to benefit from the development prospects of the region and the sector itself. The banking institutions are the most important means for market development and banking is one of the most growing sectors in Georgia.

 Hualing Group intends to support the establishment of strong financial institution with high-quality financial services, to strengthen and promote its sustainable growth and development.

Following the acquisition of 90% stakes in Basisbank by Xinjiang Hualing Industry & Trade (Group) Co. Ltd, additional capital injection in the amount of 30 million USD was made by the Bank’s new major shareholder in 2012.   

Investment Projects of “Hualing Group” in Georgia

 „Hualing Group“ has started investment Projects in Georgia since 2007 and up to know, „Hualing Group“ has implemented 5 major projects in Georgia with total investment in the amount of  USD 500 000 000 (end of 2014)According to the recent figures, Hualing Group“was named as the leading foreign investment group in Georgia. 

•           Timber

Among the implemented Projects the first was timber logging project. The investment was made in 2007 by acquisition of 20 years license.

Two wood processing plants are currently operating in Kutaisi and in Samegrelo region. In addition, „Hualing Group“has furniture production business in Kutaisi, where furniture from reprocessed wood is manufactured. Produced furniture is used as for the own demand, as well as for wholesale orders, for example: furniture for the hotels. 

•           Quarry

In 2012 „Hualing Group“ has purchased in Georgia 20 years license on extraction of construction and finishing stones, with the right of extraction of 2 400 000 of row materials. The type of material is marbled limestone. 

•           Kutaisi

In 2009 „Hualing Group“acquired the territory of the former bankrupt Automobile factory in Kutaisi. The territory was completely reconstructed; communications restored and equipped with all necessary facilities. This area is exploiting furniture and stone processing plants.  Investment carried out in this project amounted to USD 31 170 000.  In addition, Hualing Group opened a Hotel in Kutaisi. The territory is ready for the opening of other factories and productions as well. The part of territory with area of 36 hectares is going to receive the status of Free Economic Zone. Consideration of the mentioned issue with the Ministry of Economy is in the final stage. Free Economic Zone status will make the territory more attractive for the foreign investments and make investments of „Hualing Group“ even more profitable. 

•           BasisBank

In 2012 „Hualing Group“ became JSC “BasisBank’sshareholder. „Hualing Group’starget is to promote and strengthen the existing and future projects of the Bank and to enhance Chinese-Georgian economical cooperation.

•           New City of Tbilisi Sea

In 2012 „Hualing Group“ started its largest Investment Project in Georgia - construction of “Hualing. A New Tbilisi Sea City”. The territory is placed in Northern-Eastern location of Tbilisi, adjacent to the Tbilisi Sea and has area of 420 hectares.

According to the urban planning regulation the project territory is divided into the following functional areas: living apartment zone of low and middle population, public-business, recreation, transport and special zones.  In compliance with regualtion of the urban planning, 4 million m² of construction area was approved for the stated project:

 “Hualing, Tbilisi Sea Residence”_ 2 million of m² of living area 

„Hualing, Tbilisi Sea Plaza“ _           2 million of m² of commercial space 

100 hectares of territory will be utilized for roads, recreation and leisure zones.

According to the plan, the construction of the New City of Tbilisi Sea started in 2012 and by the beginning of 2015 Hualing Group already constructed and completed eighteen high-rise apartment buildings in the living area of the project. From the beginning of 2015 sale of the stated residential apartments has commenced.

In May an official opening of  „Hotels & Preference Hualing Tbilisi“ - 5 star premium-class Hotel with 247 rooms will be held

The part of territory is occupied by Olympic Village which will host the Youth Olympic Festival in 2015. According to the agreement made between Hualing Group and Georgian Government the complex will be handed over to the State for the three months period  in May 2015. Olympic Village includes: 9 living apartment buildings with complete renovation, 5 –star Hotel „Hotels & Preference Hualing Tbilisi“, Restaurant accommodating 2000 clients and special parking territory.

In June, 2014 “Hualing Tbilisi Sea Plaza”  was opened in ”Hualing. New City of Tbilisi Sea”. “Hualing Tbilisi Sea Plaza” construction area holds  300 000 m², the construction is divided into northern and southern parts and is carried out in two stages. The total area of the Southern part is 160 000 , including 110 000 m² of shopping territory and  25 pavilions with total area of 1853 .  

 

 
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