Swire Group


PUBLISHED : Wednesday, 25 July, 2012, 12:00am
UPDATED : Wednesday, 25 July, 2012, 12:00am

Chengdu office tower to be ready in 2014

Swire Properties and Sino-Ocean Land say the jointly developed grade-A office tower in the heart of Chengdu will be completed in 2014. The 200-metre tower, named Pinnacle One, is part of the Chengdu Daci Temple Cultural and Commercial Complex. The commercial complex offers a total gross floor area of more than 250,000 square metres, comprising a high-end shopping centre, a boutique hotel and serviced apartments. 'As a key investment hub in western China, Chengdu provides the ideal business location for multinational and local companies,' said Guy Bradley, chief executive officer for the mainland at Swire Properties. The tower is due to open in phases. Chen Lei, deputy general manager of Sino-Ocean Land and general manager of Chengdu Qianhao Real Estate, said Pinnacle One would offer unique services that accommodated daily business needs, including the very best in lifestyle and entertainment. Sandy Li

Shanghai clarifies home purchase restrictions

A notice clarifying that home purchase restriction policies apply to serviced apartment buildings for which land leases are zoned for residential use and lease tenure of 70 years has been issued by the Shanghai Municipal Housing Security and Management Bureau, with the Bureau of Planning and Land Resources in the city. But the policy does not apply to serviced apartments built on sites zoned for commercial use. Before the notice, some developers turned their residential properties into serviced apartments in an attempt to meet the home purchase restriction requirement. Peggy Sito