SHANGHAI, Nov 04, 2009 (SinoCast Daily Business Beat via COMTEX News Network) -- SOHO China Ltd. (SEHK: 0410) just signed agreements with the first batch of renters of the Shanghai East Sea Plaza, which was purchased by the Chinese real estate giant from Morgan Stanley (NYSE: MS) this August and renamed the SOHO East Sea Plaza.
The seven renters rented a total office area of 5,000 square meters at the plaza. After that, Pan Shiyi, chairman of SOHO China, gave on spot commission checks worth CNY 1.22 million to related agencies.
The real estate giant entrusted the marketing and lease promotion of the plaza to more than 50 agencies. By November 3, the plaza, based in Shanghai, the realty hub in estate China, accumulatively received 141 letters of intent, which involved an aggregate area of more than 100,000 square meters.
The SOHO East Sea Plaza will be sold separately to different customers, and the marketing is expected to kick off at the end of this month. Although SOHO China stressed that the price had not been fixed yet, a large number of customers received an estimated price of CNY 60,000 per square meter.
Source: www.cnstock.com (November 04, 2009)
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