Property and hotel developer Burlingame International says it is looking to re-invest earnings in hotel developments. Chairman Thomson Tang Sung-kwong said: 'We are negotiating for two 3,000 to 4,000-square-foot plots costing about $100 million each in Yau Ma Tei and Wan Chai to build serviced apartments.' Burlingame will receive 30 million yuan (about HK$27.87 million) in rental income this year from its fully let Underground Shopping Mall in Shanghai. Mr Tang said the 276,000-sq-ft Jingshan Burlingame Commercial Building in Beijing was about 75 per cent sold at about US$3,500 per square metre. The company has applied to the Shanghai municipal government to change the land use of the Burlingame Centre in Shanghai from commercial to hotel. 'We plan to build a 650-room hotel on the site . . . the tentative investment will be $800 million,' Mr Tang said. The project was scheduled for completion by 2000 and most of the investment costs would be from bank borrowings. Mr Tang said occupancy levels were about 80 per cent in the company's three Hong Kong hotels, including the Beach Resort in Sai Kung.