On December 17, China Securities News reporter learned from Delin Holdings that a few days ago, the Monterrey County Supervision Commission in California held a hearing to vote on the final approval of the development of ONE Carmel ultra-luxury residential projects, and finally all members voted unanimously with 5 votes in favor and 0 votes against. The project is valued at more than $35 million.
It is understood that Delin Holdings invested a total of 5 million US dollars in the project, accounting for 27.06% of the investment. The investment has been approved by the Stock Exchange of Hong Kong limited to the stock exchange and voted through the extraordinary general meeting of shareholders of the listed company on December 11, and the capital injection will be completed shortly.
IT IS UNDERSTOOD THAT ONE CARMEL IS A TOP-OF-AVERAGE ESTATE DEVELOPMENT PROJECT COVERING AN AREA OF 891 ACRES IN THE SAN FRANCISCO BAY AREA ON THE WEST COAST OF THE UNITED STATES. In 2017, DLC Capital Partners, an affiliate of Delin Holdings, purchased 891 acres of land from the plot-owning family Morgens and renamed it ONE Carmel. According to the plan, DLC Capital Partners will start the first phase of development of the project in early 2021. Plans are made to develop a top-tier community with 73 ultra-high-end residential plots of land in carmel Valley with an average land area of 4.38 acres per plot.
In response to the prospects of the ONE Carmel project, Jiang Xinrong, chairman of the board of directors of Delin Holdings, said that the global epidemic has brought a huge impact on the world economy, but it has also changed the living conditions of many people and the inherent perception of the real estate environment, especially wealthy families. More and more family customers hope to own and inherit the properties and land of scarce resources, and thus form a closer social circle, and the future of joint family office business will be cross-continental development. Some Silicon Valley technology giants have expressed strong interest in the project and hope to take this as an opportunity to create a smart ecological community belonging to the 21st century.
Listed on the Main Board of the Hong Kong Stock Exchange, Delin Holdings mainly provides a full range of financial investment services to ultra-high net worth family clients and their conglomerates in the Asia-Pacific region, covering: family office business, securities investment business, alternative opportunity investment, insurance trust, etc. The 2020 semi-annual report shows that since the new management joined the listed company, it took only 6 months to achieve a turnaround.