Soho China Is Turning to Rental to Reverse 65% Profit Drop

http://www.bloomberg.com/news/2012-08-17/soho-china-is-turning-to-rental-to-reverse-65-profit-drop-1-.html

Soho China Ltd. (410), the Beijing-based commercial developer whose profit dropped 65 percent, said it will hold on to more of its properties as office rents in Beijing and Shanghai rise.

Investment properties will bring in almost 4 billion yuan ($628 million) of annual rental income in three years, Zhang Xin, chief executive officer of the Hong Kong-listed company, which has traditionally sold most of its projects, said yesterday in a Bloomberg TV interview. Soho China took in 76 million yuan in rental income in the first half, while income from sales of properties was 1.15 billion yuan.