Lanson Place Joins Hands with Shanghai Leading Developer on
Landmark Project
Wins Third Management Contract for Serviced Residence Project in
Shanghai
Continues to Identify Potential Business Opportunities in
Shanghai
Accelerates Business Expansion in the Asia Market
HONG KONG, Oct. 18, 2011 /PRNewswire-Asia/ -- Lanson Place
Hospitality Management Limited ("Lanson Place" or the "Company"), a
wholly-owned subsidiary of Wing Tai Properties Limited (SEHK stock
code: 369), is pleased to announce that it has signed a new
contract to manage a Serviced Residence under the Luxiangyuan
Project in Shanghai.
(Photo: http://www.prnasia.com/sa/2011/10/18/20111018190721999122.html
)
The Luxiangyuan Project is owned and developed by Shanghai
Luxiangyuan Properties Limited, a subsidiary jointly owned by
Shanghai Chengtou Holding Co., Ltd. ("CT Holding"; A-Share stock
code: 600649) and its unit Shanghai Chengtou City Land (Group) Co.,
Ltd. ("CT Land"). CT Holding is a leading integrated modern
services enterprise in China, boasting outstanding competitive
strength in its three core businesses: environmental services, real
estate and equity investment. CT Land is committed to becoming a
leading real estate developer in China. It has recently been
recognized as one of Top 50 Property Developers in Shanghai, Top 10
Leading Property Developers in Shanghai, and Top 10 developers in
terms of scale among China's Top 100 Real Estate Developers in
2011.
The project is located in the centre of Shanghai's most
prominent commercial districts - the Huaihai Road central business
district, Xintiandi, Yuyuan and Chenghuang Temple - ensuring the
commercial and daily use of the surrounding facilities. The site is
conveniently accessible, with the Renmin Road Tunnel and
underground train stations within walking distance, while the Small
Lujiazui financial and commercial district is just a five-minute
walk from Renmin Road Tunnel. The project occupies a total site
area of 149,300 sq. m. and with a planned gross floor area ("GFA")
of 391,600 sq. m. It will be developed in two phases comprising
primarily high-end residential units and supporting commercial
facilities.
Lanson Place will be responsible for the management of the
project's Serviced Residences, which will offer 79 serviced
residential units of between 60 and 300 sq.m, a gym and a breakfast
lounge. The project is targeted to be completed by 2013.
Mrs. Karen Li, Executive Director of Lanson Place, said: "We are
delighted to partner with CT Holding, one of the most influential
state-owned developers and the largest publicly listed real estate
developers in Shanghai, on this key development project in the
heart of the city. We believe this cooperation not only is a
testament to our solid reputation in quality hospitality services
in the region, it will also further strengthen our presence in this
growing market. We will continue to actively identify suitable
development opportunities in both hospitality management and
investment for business expansion in Asia."
Mr. Marc Hediger, Chief Executive Officer of Lanson Place, said:
"This Luxiangyuan Project marks a major milestone in the Group's
corporate development, as it is our third management contract in
Shanghai and the ninth property project managed and operated by us
in Asia. With our strong brand reputation, quality customer
services, management expertise and solid operating experience
gained from the management of Lanson Place Jinlin Tiandi Residences
and Lanson Place Jin Qiao Residences in Shanghai, we are confident
that the project will deliver exceptional performance and bring
strong value to the Company."
About Wing Tai Properties Limited
The business of Wing Tai Properties Limited (SEHK stock code:
369) (Previously known as USI Holdings Limited) spans three core
areas: property development under the Wing Tai Asia brand;
hospitality investment and management under its Lanson Place brand
in Hong Kong, Shanghai, Beijing, Singapore and Kuala Lumpur; and
the property investment arm under its listed subsidiary Winsor
Properties (SEHK stock code: 1036). Wing Tai Properties was listed
on the Stock Exchange of Hong Kong Limited in 1991.
About Lanson Place Hospitality Management Limited
Lanson Place is a wholly-owned subsidiary of Wing Tai Properties
Limited. As its hospitality investment arm Lanson Place manages an
award-winning boutique hotel in Hong Kong and Serviced Residences
in Shanghai, Beijing, Kuala Lumpur and Singapore providing over
1,200 luxury Serviced Residences.
For further information, please contact Hill & Knowlton Asia
Ltd.:
Gary Li
Tel: +852-2894-6239
Email: [email protected]
Linda Pui
Tel: +852-2894-6378
Email: [email protected]owlton.com.hk
SOURCE Lanson Place Hospitality Management Limited