morgan by zhangyun

VIEWS: 6 PAGES: 24

									Morgan Stanley Asia Pacific Summit 2008
SOHO Newtown
Jianwai SOHO
SOHO Shangdu
Chaowai SOHO
Guanghualu SOHO
Sanlitun SOHO
Beijing SOHO Residences
Guanghualu SOHO II
Chaoyangmen SOHO
ZhongGuanCun SOHO
Beijing Real Estate Transactions




                                   11
Affordability is Improving




          Source: CEIC, UBS



                              12
Beijing Prime Office Appreciation Potential




New York
      ~2.6 times

London
      ~9 times

Hong Kong
      ~12 times


                             Source: JLL, Coliers, CBRE

                                                          13
SOHO’s Differentiated Model
We Sell Commercial Properties to Investors




       Acquisition                           Delivery
         T                                    T + 3~4 years

                 Design       Construction
                                                              Leasing
               + Permits       +Pre-sale

               1 year          2-3 years                      2 years




                                                                        14
SOHO’s Differentiated Model
We Sell Commercial Properties to Investors




 RMB 6.4 billion




Retail:             ¥58,900/sq.m.

Office:             ¥37,300/sq.m.

Residential:        ¥41,500/sq.m.

As of 10 Nov 2008
                                             15
SOHO’s Differentiated Model
Award Winning Brand

                             Commune by the Great Wall
                      "New Architecture Wonder of China“
                                  by Business Week(2005)




                 Jianwai SOHO
                 “The International Highrise Award 2006”


                                                          SOHO Shangdu
                  "Most Outstanding Work of International Architecture“
                    by the Royal Australian Institute of Architects (2007)

                  Chairman Pan Shiyi
                  “Top Ten Influential Figures in the Real Estate Industry”
                  by sina.com (2003-2006)

                  CEO Zhang Xin
                   “Ten Women to Watch in Asia” by FORTUNE (2007)
                                                                              16
SOHO’s Differentiated Model
Tracking Wealth Creation




                              17
SOHO’s Differentiated Model
We Focus in Beijing Commercial Centers

                                                   4th Ring Road




                          ZhongGuanCun SOHO        3rd Ring Road
                                                                                           Beijing SOHO
                                                                                             Residences

                                                   2nd Ring Road


                                                                                                          Sanlitun SOHO


                                                                Chaoyangmen SOHO                                 Chaowai SOHO

                                                                                         Guanghualu SOHO II      SOHO Shangdu

                                                                                          Guanghualu SOHO
                                               Changan Avenue
                                                                                                                     SOHO Newtown
                                                                                                  Jianwai SOHO
                                                         Tiananmen South (Qianmen) (1)

 New Acquisition              544,000 sq.m.

 Completed                   1,478,000 sq.m.

 Under Construction          1,158,000 sq.m.

 (1) Subject to government approval
                                                                                                                                    18
Completed Acquisitions




 Date                        Project                                    GFA    Acquisition Cost
                                                                     (sq.m.)     (RMB million)
 2 Nov 2007       Beijing SOHO Residences                            66,616              1,412

 2 Nov 2007       Guanghualu SOHO II                             190,000                 1,029

 26 May 2008      Chaoyangmen SOHO                               485,166                 5,544

 31 Aug 2008      ZhongGuanCun SOHO                                  58,850                890




 Post IPO in 10 months, acquired 800,000 sq.m. in heart of Beijing



                                                                                                  19
Acquisition Targets - Beijing



                                                                       Wang Jing
                                      4th Ring Road
                           Zhongguancun

                                     3rd Ring Road
                                                                       Lufthansa
                                     2nd Ring Road




                                   Financial
                                   Street
                                                      Changan Avenue
                                                                          CBD




     Private negotiation                                                           20
Acquisition Targets - Shanghai




                                                       Lujiazui

                                            The Bund




     Private negotiation   Public auction                         21
Development Pipeline



   Project Completion          2008      2009      2010      2011      2012
   (sq.m.)

   Guanghualu SOHO            66,616

   Beijing SOHO Residences    75,887

   Chaoyangmen SOHO           83,171              52,606             349,389

   Sanlitun SOHO                       237,630   228,050

   ZhongGuanCun SOHO                    58,850

   Guanghualu SOHO II                                      190,000

   Total                     225,674   296,480   280,656   190,000   349,389




                                                                               22
Q&A




      23

								
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