China Xintiandi Announces 2014 Interim Results
27 August, the parent company of China Xintiandi, Shui On Land Limited announced its unaudited consolidated results for the six months ending 30 June 2014. Rental income contribution from China Xintiandi is growing. During the period, the commercial property portfolio managed by China Xintiandi comprises three parts, namely its Initial Portfolio in co-operation with Brookfield with a total GFA of 593,000 sq.m.; Shui On Land’s commercial property portfolio (excluding hotel properties) with a total GFA of 647,000 sq.m.; and third parties’ assets under management with a total GFA of 357,000 sq.m.. Rental and related income of China Xintiandi Initial Portfolio increased by 4% to RMB377 million. The increase was mainly driven by the newly completed Showroom Office Towers at THE HUB in the Hongqiao Transportation Hub. Rental and related income generated by Shui On Land’s completed portfolio amounted to RMB125 million, representing an increase of 19%. Since its establishment as a separately managed company in 2013, China Xintiandi has been focusing on commercial asset management and investment. By nurturing vibrant communities and commercially thriving districts, China Xintiandi enhanced the quality of commercial portfolio and rental growth.
(Chairman of Shui On Land Mr. Vincent Lo (middle), Managing Director and CEO of China Xintiandi Mr. Philip Wong (left), Managing Director and CFO Mr. Daniel Wan (right) attend the 2014 interim results announcement)
(Mr. Vincent Lo, Chairman of Shui On Land is exchanging ideas with reporters on the company's development)
(Media from Hong Kong and overseas attend Shui On Land's 2014 Interim Results Announcement Press Conference)