GRAND CENTRAL SIGNS UP FIRST BATCH OF KEY TENANTS
2008-05-08

• A range of prominent enterprises signed tenancy agreements for office units at the Yoma International Finance Center (“Yoma IFC”) and retail units at the Grand Central Fashion and Lifestyle Mall
• Guests at the signing ceremony were welcomed by Hong Kong television personality, Angie Chiu, Hao Fanglin and Wang Yanhui, Deputy Director of the Administrative Committee of the Dalian Development Area
• Signing comes ahead of opening of Yoma IFC Grand Central office tower which is expected to be operational by end May 2008
Dalian, 8 May 2008 – SPA (Dalian) Property Development’s Grand Central complex has pre-signed its first batch of tenants at a signing ceremony held earlier in the day, at Yoma International Finance Center. Grand Central. Grand Central is a 110,000sqm mixed use development consisting of the Yoma IFC office tower, Shama Luxe 5-star serviced apartment, and the Grand Central high-end shopping mall, and is the first premium, internationally managed mixed used development in the Dalian Development
The signing was hosted by Hong Kong television personality, Angie Chiu, and attended by many of the city’s most prominent political and business leaders.
International Tenants
The first tenants taking up retail units at Grand Central include the well-known Ten Fu’s Tea, Valleverde, an Italian shoemaker with 250 stores internationally, and Xindongyang, the Taiwanese specialty foods purveyor. “Like many international companies, we chose to open our first mainland China store in Shanghai. We have chosen Grand Central for our next store, as we believe its special, world-class design will help establish it as a true destination shopping center in northern China.” Mr. Chen Kunqi, president of Xin Dong Yang Group replied as interviewed by media.
Yoma IFC office tower tenants include the prominent property developer, Dalian Gold Coast Enterprises, who will occupy a large unit on the 18th Floor. Managing Director of Gold Coast, Mr Fred Lee comments: “Convenience and top class amenities are our key considerations. We really like the Grand Central’s location being right at the heart of the Dalian Development Area. We also very pleased by the value of paying Dalian’s rental rates for an international office and management services. ”
The Grand Central office and retail portions will be managed by CB Richard Ellis, world's premier, full-service real estate services company.
Shama Luxe Grand Central, managed by Hong Kong’s renowned Shama Group, will offer the most luxurious serviced apartments in Dalian. They are already shown their appeal, with over 40 of the 192 apartments already reserved, predominately by expatriates and international companies based in the Dalian Development Area.
SPA’s Vision and Approach
“We are very heartened by the warm response from the participating tenants. This first tenancy signing ceremony signifies a strong beginning for the entire Grand Central development. We believe Grand Central will set a powerful marker for top-end real estate development in Dalian Development Area.”
said Mr Serge Pun, SPA Group Chairman.
“The PRC real estate market is immense and pockets of unique opportunities abound. SPA is design- and quality- focused and hence our approach is never mass-market. Instead, we scour for opportunities to design and develop world class real estate in areas of the PRC where such developments are few and far between.”
“We have come a long way in a short time to be able to acquire, design, construct, launch and market the Grand Central. Credit goes to our management and staff for the professionalism and efficiency with which they have brought Grand Central to the market.” Mr Pun concluded.
The Yoma IFC office tower will be operational from 30th May. Construction of Grand Central is expected to be completed, and the Shama Luxe and Grand Central Fashion and Lifestyle Mall are expected to be operational by end 2008.
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