TimeShare Holdings Announces JV Agreement for $230M Senior Living Project in China

TimeShare Holdings, Inc. (OTCQB: TMSH) recently disclosed that it and Western International External Corporation Ltd. (WIEC) have entered into a Joint Venture agreement with the Shandong Taishan Real Estate Co., Ltd. to finance, construct and secure the long-term management and operation of the Panlongshanshui Senior Healthy Living Center in Jinan City, Shandong Province, China.  The Senior Healthy Living Center will be located in Caishi Town in the Licheng District of Shandong and consist of a 270,000 square meter (66 acre) complex comprised of high-end, senior-friendly apartments accommodating up to 5,000 people.  The living center will have an array of services and amenities to provide additional care and convenience to the apartment community.  The $230 million dollar project will be worked developed in three phases.

"We are delighted that our first venture in China is working with the Taishan Real Estate Company on such a noble project. The needs for the senior population are serious and immediate and we are proud of the vision that they and others have to create such a beautiful and functional complex," says Paul Thompson, Vice President of Investor Relations for TimeShare Holdings.