KUALA LUMPUR: Lanson Place Hospitality Management Ltd (Lanson Place), a wholly-owned subsidiary of Wing Tai Properties Ltd (Wing Tai), has announced that it signed a new contract to manage a serviced residence under the Luxiangyuan Project in Shanghai.
LANDMARK DEAL: Hediger (fifth right) joins CT Land’s general manager Gao Yue Long (fifth left) and Lanson Place’s executive director Karen Li (fourth right) together with attendees at the Luxiangyuan Project’s service residence management contract signing ceremony. — Bernama photo
The Luxiangyuan Project is owned and developed by Shanghai Luxiangyuan Properties Ltd, a subsidiary jointly-owned by Shanghai Chengtou Holding Co Ltd (CT Holding) 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 namely environmental services, real estate and equity investment.
It has recently been recognised 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’ this year.
The Luxiangyuan Project would be 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 project would occupy a total site area of 149,300 square metres and with a planned gross floor area (GFA) of 391,600 square metres.
It would be developed in two phases comprising primarily high-end residential units and supporting commercial facilities.
Lanson Place would be responsible for the management of the project’s serviced residences, which would offer 79 serviced residential units of between 60 and 300 square metres, a gym and a breakfast lounge.
The project would be slated for completion by 2013.
Marc Hediger, Lanson Place’s chief executive officer remarked, “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.” As the hospitality investment arm of Wing Tai, Lanson Place manages a boutique hotel in Hong Kong as well as serviced residences in Shanghai, Beijing, Kuala Lumpur and Singapore, providing over 1,200 luxury serviced residences. — Bernama