Place the East China Sea towards the acquisition of our first step into the Shanghai market

 I believe the business model of SOHO China, the East China Sea to the Shanghai Plaza also will be successful
> Pan Shiyi: SOHO China's acquisition of the East China Sea Place, changed its name to business model is successful, there is a vitality, is able to adapt to the market. The business model for the community, for the company and customers to create a lot of wealth and employment for the capital's economy has made its own contribution. This kinds of market success in Beijing has been fully confirmed. this in Shanghai, we have seen in China, Shanghai and Beijing, as two brothers, is the most similar to the two cities, there are many similar market characteristics, we believe that our This business model also will be in Shanghai to succeed.
In Beijing alone, the development of the past, but SOHO China's customers come from all over the country. SOHO China had more than 7,000 customers, a considerable portion of these customers are repeat purchase of the property we develop. these customers and SOHO China's investment philosophy is consistent , very optimistic about Beijing, Shanghai, the busiest section of commercial property. The SOHO Square, the East China Sea should also be the target customers from across the country, including some of our customers.
Over the years, our customers have been looking forward we can in Shanghai, to provide them with a number of investment opportunities in Shanghai, this time in Shanghai is for these long-term follow our investors mm in the most prosperous city Shanghai, the bustling Nanjing Road has a lot ----- good opportunity for property ownership. This is our dream, the dream of our customers.
SOHO Square, the East China Sea effect diagram
? Who is the object of lease?
Pan Shiyi: SOHO Square, the East China Sea with the current 30% occupancy rate, the tenant is a large international companies, office rents now range in the 8m12 / day / m yuan. We will SOHO Square, the East China Sea will soon complete the sale and rental, as the positioning of the project we will make some changes. We see the development of Beijing and Shanghai is China's most powerful local power company, is China's own staff. while in Beijing and Shanghai , there are only located in the international office of the big companies, the office rental rates are generally low, especially in the international financial crisis, this positioning is too high, only the office for foreigners, rental and sales conditions are not ideal.
But China's position is close to the SOHO market for Chinese companies services for China's own staff services. SOHO China in Beijing CBD office successfully resisted the international financial crisis on the Beijing office the impact of rental rate has remained above 95%.
to Shanghai, to the East China Sea Place, we will continue to implement the SOHO China's consistent, has been the market proved to be successful and effective business philosophy and principles.
Morning, commercial property (shops and offices) operating rental and sales, relative to the housing market is more difficult, requires more experience and accurate market positioning. SOHO Plaza, the East China Sea from the location of this project, it is located in Nanjing West Road, Shanghai is the most prosperous of the lot, the traffic is very convenient, is the subway and ground transport interchange, the building quality is very good. These basic conditions have been met, as long as it can locate and close to the Shanghai market, will certainly be success. SOHO us to the most valuable experience of the East China Sea Place is our business model, which is SOHO China in the past decade out of time to explore.
and ensure that our business model and management experience in the implementation of the Mighty Fortress is our the principle of doing things m honest, open, and honest. Donghai Plaza, the early lessons proved the importance of this principle.
whether the company could well avoid the legal risks?
Pan Shiyi: Yee the day we received our lawyer's letter sent to the company, and its prosecution of Shanghai Municipal Development and Reform Commission and other government departments information. our lawyers and sellers Morgan Stanley's lawyers also issued a legal opinion for us, they claim that the Tin Yee and views the company's difficult to get support for the Court, and proceedings are also flawed. concession, if the company won Tin Yee administrative proceedings, Gao Ying of the Shanghai Municipal Government, our purchase is made of a bona fide third parties, we deal with Morgan Stanley also protected by law.
the project criteria? measured by these standards, Everything is not beneficial to society, is not to increase social wealth for the community to create and add value, not the cause of idle, waste, or to short-term interest to create a bubble. The second criterion is the evaluation of economic indicators, there should be some rate of return on investment to be worthwhile, of course, there is a specific economic indicator to evaluate a project.
surface, these two sometimes contradictory, but in essence it is not contradictory, is the ability to unify. If the value created in the market can not be realized, the market will prove that your labor is not a valid labor, is not recognized by others work. Conversely, if you can not create value for society based on the starting point of departure, short-term profits are likely to change bubbles, often the schedule, its value, through our efforts realized in the market, and reflected, from the perspective of economic efficiency of enterprises, high return on investment, is also very reasonable.
Times Interview