17th October, 2013 (Tianjin, China)-- MultiBank Exchange Group is proud to announce that it has entered into a Memorandum of Understanding (“MOU”) with the Tianjin Government of China on 17th October 2013.

This latest collaboration between MultiBank Exchange Group and the Tianjin Government is an extension of the Tianjin ECN Agreement signed between the two parties on 28th September 2011.

The development also involves the establishment of the Multibank Exchange (“MEX”) in Wuqing city, being the first-of-its-kind interbank Forex ECN trading platform in China.

The new commercial and residential center will become both the main landmark in Wuqing city as well as a long-term source of employment, taxation and economic progress for Wuqing city.

MultiBank Exchange Group and Wuqing city are partners. But, the lead role will be played by MEX Group, which will be responsible for the design, construction, completion and management of the entire development.

Naser Taher, the Chairman of MultiBank Exchange Group stated “This recent MOU involves a partnership between MultiBank Exchange Group and the Tianjin Government to build and develop one of Northern China's premier large-scale mixed-use residential and commercial real estate projects comprising of a landmark tower, containing a commercial shopping center, a 5 star hotel, residential high-rise buildings, commercial offices, service apartments, convention center, and other ancillary facilities. The new development is situated in an optimal location, in the "green oasis" of Wuqing city, midway between the 80km distance separating Northern China's twin powerhouse economic centers, Beijing and Tianjin.”

The project, with circa 17.5 hectares of rentable/saleable commercial and residential property, will achieve new standards within China of urban convenience, "livability" and environmental-friendliness.

The development will consist of an integrated group of buildings set inside manicured green parkland on the shore of a man-made lake.