Kerry mainland rental of office building up 30-50%

Zhou Fuan, the leading financial manager of Kerry Properties (0683) said because of the entry of WTO and the limit of office buildings supply in Shanghai and Beijing, the company had signed agreements to reset the rental for its office buildings in the two places. The rental in the two places was averagely up 30% and 40% to 50% with US$20 to US$30 per square meter. He added that the companyˇ¦s property asset in mainland was about HK$6.6 bln, accounting for 20% of the whole property value.Its executive director He Shuqin said the company was planning to develop more projects in Beijing, Shanghai and Shenzhen.

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