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Lanson Place and Beijing Capital Land to Sign Management Contract for Serviced Residence Project in the Chaoyang CBD District in Beijing

Profile Photo By: H L
February 9, 2012

Lanson Place and Beijing Capital Land to Sign Management Contract for Serviced Residence Project in the Chaoyang CBD District in Beijing

To Create New Benchmark for Serviced Residences in Beijing

HONG KONG, Feb. 9, 2012 /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 as part of the Xanadu Project in Beijing.

The Beijing Xanadu project is located next to the iconic CCTV Headquarters in the commercial heart of the Beijing CBD East Expansion area. Located on Chaoyang Road and the East Third Ring Road, it is a short 30 minute drive from the airport, which demonstrates the convenience of its accessibility. Chaoyang Road is the vein which connects the eastern and the western portions of central Beijing, and is a long-established commercial centre that features a wide assortment of dining and entertainment options. The Beijing Xanadu project has a gross floor area of over 80,000 sq. m. and comprises high-end residential units and supporting commercial and entertainment facilities.

Lanson Place will be responsible for the management of the project’s fourth serviced residential building, which will offer 59 luxurious serviced residential units of approximately 350 sq. m. each. The project is expected to be completed during first half of 2013.

Mrs. Karen Li, Executive Director of Lanson Place, said: “We are delighted to partner with Beijing Capital Land on this key development project, which features such an outstanding geographical advantage. We believe that this partnership is yet another testament to our strong brand reputation in quality hospitality services in the PRC, established through our success in operating the Lanson Place Central Park Residences in Beijing and the Lanson Place Jinlin Tiandi Residences in Shanghai. It will also pave the way for future business expansion in the high-end serviced residence management industry in China by participating in more quality development projects.”

Mr. Marc Hediger, Chief Executive Officer of Lanson Place, said: “This project is our second management contract in Beijing and the tenth property under our management in Asia. It will further strengthen our market position in the high-end serviced residence sector in Beijing. With the strength of the Lanson Place brand, high quality of our services, the expertise of our management as well as the geographical advantage and quality supporting facilities of the project, we are confident that the project will set yet another new standard in Beijing.”

The Xanadu project is owned and developed by Beijing Capital Land Limited (“Beijing Capital Land”, SEHK stock code: 2868), which is principally engaged in property development and the investment in and operation of hotels in mainland China. With the brand philosophy of “Total?Value, Total?Life”, Beijing Capital Land provides one-stop services, ancillary facilities, commercial operations, alliance privileges and interactive communications.

Artist Impression of the Beijing Xanadu Project

Artist Impression of the Beijing Xanadu Project

Artist Impression of the Beijing Xanadu Project are available for download at the below links:

http://ftp.hillandknowlton.com.hk//Wingtai/Photo_1.zip

http://ftp.hillandknowlton.com.hk//Wingtai/Photo_2.zip

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:

Lanson Place Hospitality Management Limited

Winnie Poon

Marketing Communications Manager

Tel: +852-2752-2185

E-mail: winnie.poon@lansonplace.com

Hill+Knowlton Strategies Asia

Gary Li Linda Pui

Tel: +852-2894-6239 Tel: +852-2894-6378

E-mail: gary.li@hillandknowlton.com.hk E-mail: linda.pui@hillandknowlton.com.hk

SOURCE??Lanson Place Hospitality Management Limited

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