REGIONAL> Development
Shama appointed operator for Shama Central Point

Updated: 2009-05-08 16:47

Chengdu, China - Asia's premier luxury boutique serviced apartment provider, Shama and China Central Properties, an affiliated company of Shui On Construction and Materials Limited announced the appointment of Shama as the operator for the soon-to-open project, Shama Central Point, during a signing ceremony today in Chengdu, China on 29 April 2009.

The collaboration of these two industry heavyweights is slated to bring a new experience of luxury service living into Chengdu. Many distinguished guests gathered at the signing ceremony, avidly anticipating a new luxury experience. Also present was director Kenny Siu from the award-winning, world-renowned interior design and architectural firm Steve Leung Architects Ltd (SLD), which heightened the event's already exciting atmosphere. Well-known for their sleek, minimalist styles, SLD has worked on many major commercial and residential projects in Hong Kong and throughout China. Chengdu is the fourth city after Hong Kong, Shanghai, and Beijing that Shama has chosen to expand its portfolio. Shama properties in Dalian and Guangzhou are also currently under planning. Shama Central Point's objective is to introduce luxurious, modern and hassle-free living in the city's most coveted location.

Since 1996, Shama has focused on the ownership and operations of properties in Hong Kong, Shanghai, and Beijing and is now expanding into other Asian cities with a focus on the China market. It currently manages eight serviced apartment properties in Hong Kong, four properties in Shanghai and one property in Beijing. All properties are located within the cities' prime commercial and residential districts.

Shama's mission is to be the top luxury boutique serviced apartment provider in Asia. It offers discerning tenants a superior standard of living and a chance to live aspirational lifestyles, enhancing their experience in a number of unique ways. Shui On Construction and Materials Limited (SOCAM), a member of the Shui On Group, constantly seeks opportunities in growing markets and in investing in profitable ventures, making them a natural choice for partnership with Shama in developing Shama Central Point, Chengdu. With more than 35 years of history, SOCAM has business operations throughout greater China and is principally engaged in four business groups: property, cement, construction and venture capital investment.

With its well-established corporate culture and focus on quality, innovation and excellence, SOCAM today has business operations in over 14 cities and strategic areas in Hong Kong, Macau and Mainland China. Shama Central Point is situated right in Chengdu City Central Square, with a superb riverbank view and international supermarkets and lifestyle shopping mall facilities all a stone's throw away. Shama Central Point has a total of 200 apartment units with the following breakdown:

60 units of studio apartments ranging from 42-49 sq. meters in size  128 units of one-bedroom apartments ranging from 77-100 sq. meters in size  8 units of two-bedroom apartments each 121 sq. meters in size  4 units of duplexes ranging from 115-296 sq. meters in size  5 adjoining units available to allow the flexibility to convert studio apartments and one-bedroom units into two-bedroom units

This provides guests with a unique freedom of choice in living space, and all apartments are fitted with state-of-the-art amenities and designer-chic furniture. While tailoring customised services for all guests, Shama Central Point also provides distinctive amenities such as the Super Kitchen, where tenants can socialise and cook together in a spacious environment stocked with state-of-the-art equipment. Additionally, the Clubhouse offers an extensive variety of facilities such as a fully equipped gym with a boxing ring, Meditation Room, Steam Room, Games Den, Yoga Room, Mahjong Room, Dance Room, Rooftop Garden and even a Kids' Playroom complete with a stage and costumes. Shama aims to create unparalleled membership privileges through its flexible rental arrangements, personalised services, special activities and unique No Boundaries programme, which offers insider recommendations to the city's hotspots and a way for new tenants to fast-track their social lives.

About Shama

In 1996 Elaine Young, Shama's CEO and co-founder, introduced the first boutique-serviced apartment building to Hong Kong. By 2001, the Shama brand was established and has since become the leading provider of boutique serviced apartments in the Hong Kong real estate market, with a varied portfolio of properties across prime commercial and residential districts. In 2006, Morgan Stanley Real Estate acquired a majority interest in Shama, with Gaw Capital as a secondary shareholder. With the resources made available through these partnerships, Shama has put in place an ambitious growth plan that aims to make Shama the Asian market leader in its sector. In early 2007, Shama took the first steps in implementing its growth plan when it entered the Mainland China market with Shama Luxe at Xintiandi in Shanghai. This project not only marked Shama's first property outside of Hong Kong, but is also the first in the portfolio to be branded under the newly launched premier tier “Shama Luxe”. Shama now operates 14 properties in Hong Kong and Mainland China, with many more forecast in additional China cities and gateway cities across Asia. By 2011, Shama plans to have at least 40 properties across the region. The company's strategic growth plan is buoyed by the network of expertise and the financial insight made available through their partners at Morgan Stanley and Gaw Capital. More information can be found at www.shama.com

About Shui On Group

Shui On Construction and Materials Limited (SOCAM), a member of the Shui On Group, constantly seeks opportunities in growing markets and in investing in profitable ventures, which leads them into partnership with the Shama Central Point, Chengdu.

With more than 35 years' of history, SOCAM was listed on the Hong Kong Stock Exchange in February 1997. SOCAM is principally engaged in four business groups; property, cements, construction and venture capital investment, and has business operations in over 14 cities and strategic areas in Hong Kong, Macau and Mainland China.

Its property interests are threefold, comprising distressed properties and greenfield developments in the Chinese Mainland, complemented by a significant interest in the publicly listed Shui On Land Limited, also a member of Shui On Group.

Shui On started investing in the cement business in the Chinese Mainland in 1994. In November 2005, SOCAM and Lafarge, the world leader in building materials, merged their cement operations in China to form Lafarge Shui On Cement Ltd, 55% owned by Lafarge and 45% owned by SOCAM. The joint venture is the cement market leader in Southwest China with a strong presence in Chongqing, Sichuan, Yunnan, Guizhou and Beijing. It is determined to be one of the top cement producers in China through aggressive plans for expansion and acquisition.

China Central Properties (CCP) is an affiliated company of SOCAM, a member of Shui On Group that developed the famed Shanghai Xintiandi. CCP is listed on the AIM Board of the London Stock Exchange and focuses primarily on investing and development of medium to large partially completed property projects in major and second-tier cities in the Chinese Mainland. By offering high quality landmarks with promising investment value, CCP is dedicated to the development of each city where it operates. To date, CCP has a diversified portfolio of products comprising Grade-A offices, premium residences, high-end retail properties and hotels in Beijing, Chongqing, Dalian, Qingdao, Shenyang, Chengdu and Guangzhou.