China HGS Real Estate Inc. (Nasdaq:HGSH) one of the largest residential and commercial property developers in China's southern Shaanxi province, announced that its operating entity in China, Shaanxi Guangsha Investment and Development Group Co., Ltd. (the "Guangsha Group"), recently signed an agreement (the "Agreement") with the Yang County government for the construction of a large-scale Economically Affordable Apartment housing project (the "EAA Project") with an overall ground floor area (GFA) of 40,000 sq. m. (approximately 430,556 sq. ft.). Yang County is the largest administrative district of Hanzhong city, which has a total population of about 440,000.
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