KUALA LUMPUR, 8 Feb — HRC World Plc today inked a contract with China Construction Eighth Engineering Division Corp (CCEED) to construct 36 Hard Rock Cafes in China in a deal valued at RMB1.1 to RMB1.2 billion (RM680 to RM750 million).
HRC is the franchise holder for the Hard Rock chain in China and is currently running the Hard Rock cafes in Hangzhou and Shanghai which were developed in 2016.
“We target the completion of the project in 36 months and we are eyeing the growing middle class in China to patronise our outlets,” said HRC World’s CEO Alex George in a press conference after the signing of the contract ceremony here today.
HRC targets the projects to break even in one year.
CCEED is a subsidiary of China State Construction Engineering Corporation Limited (CSCEC), which during 2017 was the largest contractor in the world by revenue and the 24th largest general contractor in terms of overseas sales.
CCEED will carry out several key scopes of work for HRC World including turnkey design and build, total fit out, assisting in site selection to locate Hard Rock Cafes, securing local approvals, permits and ensuring prompt delivery of each Hard Rock Cafe outlet.