SOHO China - SOHO Nexus Centre First Day Sales Reach RMB2.09 Billion

SOHO China acquired Nexus Centre on 18 November 2009 at RMB 2.34 billion and renamed it SOHO Nexus Centre. The building is on busiest part of East Third Ring Road, right next to Beijing CBD and Sanlitun, and the Tuanjiehu Station of the No. 10 Subway Line, giving it transportation convenience. It has a total GFA of 103,340 square meters and saleable above ground GFA of 82,165 square meters. It was completed in February 2008. When it was acquired by the Company, it was about 30% leased with multinational companies such as Volkswagen and Wal-Mart among the tenants.

At the sales office today, SOHO China Chairman Mr. Pan Shiyi said, We are able to start sale of SOHO Nexus Centre in just two months after the acquisition was completed, which is a proof of our effective acquisition strategy. The acquisition agreed with our strategy of securing completed commercial properties from institutional investors in the heart of Beijing and Shanghai.

Offering tailored sales service and lease services, the Company has turned property with low leasing rate into one with strong profitability and in doing so has extended its footprint in Beijing. Our office buildings have consistently reported occupancy rates of more than 90%, which speaks volume to our marketing and leasing capability and ability to boost the value of commercial properties in the central district of a city.

We believe that we will be able to enhance and realize the full value of SOHO Nexus Centre in the near future.

Meanwhile, SOHO China just heard of the plan to build Hainan into an international tourist attraction recently publicized by the State Council, which represents full government support, politically and in funding, to the development of Hainan, and will create new opportunities in the province. High-end residential properties in cities such as Sanya have been constantly climbing and the SOHO China project Boao Canal Village will start sale soon.

Located in a designated zone of the Boao Forum for Asia, the project comprises 115 villas surrounded by rivers and streams and greenery. The modern seaside estate was designed by a well-known international architect.

Hainan reportedly will complete the third largest airport in China in Boao in 2012, which will be only 15 km drive from the Boao town. The Hainan East Ring Railway scheduled for completion in late 2010 will also markedly shorten the distance between Boao and central cities in the province. By then, it will take only 30 minutes by rail to travel from Boao to Haikou and 45 minutes from Boao to Sanya. Supported by comprehensive town planning and convenient transportation facilities, Boao is expected to become an investment magnet.

SOHO Nexus Centre First Day Sales Reach RMB 2.09 Billion
20 January 2010

Boao Canal Village

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