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Transactions - JULY 22, 2021

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Borqs Technologies forms JV to develop $110m 5G industrial park project in Huzhou, China

by Released

Borqs Technologies and Qualcomm Technologies, through a joint venture with the Huzhou, China, government, is receiving bids from several real estate developers to build out a 1.9 million-square-foot, $110 million, 5G industrial park in Huzhou, China.

The $110 million value includes the company’s 1.7 million square feet of land-use rights granted to Borqs by the Huzhou South Taihu New Area government. The development will include a research and office complex, manufacturing facilities, convention center and hotels.

Borqs is targeting its leasing efforts at cutting-edge technology companies and is actively in discussions with companies in robotics, auto-drive software, artificial intelligence for health inspection, remote-controlled security systems, sensor technologies for smart cities, and incubators for various 5G technologies.

The Borqs joint venture entity with the Huzhou authorities is authorized to manage the development project and is expected to retain

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