Press Release
SOTAN China Real Estate I, LP makes first China
investment.
24 April 2012, Hong Kong
SOCAM Development and Tan-EU Capital are pleased to announce the acquisition today of a
102,000 sq m vacant site in Wuqing with planning permission to build 45,000 sq m of 2-3 storey street
front retail shops, a 30,000 sq m shopping mall, 40,000 sq m of apartments plus a 700 space car park.
Wuqing is a rapidly developing district of Tianjin with its economy and population growing in 2010 by
21.1% YoY and 12.7% YoY respectively.
The site is located opposite a high speed train station which
opened in 2008 which links the district to central Beijing and Tianjin within 25 and 10 minutes respectively.
This improved accessibility and a rapidly growing local economy is supporting additional demand for the
retail and residential sectors in the city.
Rachel Renucci-Tan said “The acquisition is in line with our strategy of targeting under-developed areas
with strong growth potential accelerated by improving infrastructure.
The site is adjacent to the popular
Florentia Village Outlet mall which specializes in selling luxury branded goods at factory outlet prices and
attracts thousands of visitors from Beijing and Tianjin. Our project will create a synergy by offering a
variety of fashion, F&B and convenience based stores and will not only benefit from the demand of local
residents but also Beijing and Tianjin day trippers.”
In addition to the strong growth potential of the area, the site offers considerable potential to generate
value from direct, hands on management. The project will be realized by selling the serviced apartments
and street front retail shops by strata titles sales and enbloc disposal of the retail mall.
-ENDS -
Notes to Editors
About SOCAM
Listed on the Hong Kong Stock Exchange in February 1997, SOCAM Development Ltd (HKSE Stock
Code: 00983) is a member of the Shui On Group, and is principally engaged in property, cement and
construction businesses, with operations covering strategic areas and major cities in the Chinese
Mainland, Hong Kong and Macau. SOCAM is a constituent of the Hang Seng Composite Index.
SOCAM is visionary in its planning and precise in its moves. Its principal profit drivers – property
development and cement production in China – are built on solid business models seeking to capitalise on,
and contribute to, one of the world’s fastest growing economies.
About TAN-EU Capital
TAN-EU Capital was founded in 2009 by Rachel Renucci-Tan. The company manages funds and joint
ventures in partnership with the most prestigious and reputable local partners in Asia. It has a dedicated
team with the principals having over 17 years of institutional real estate experience across Asia, Europe,
Middle East and the US.
About SOTAN China Real Estate I, LP
TAN-EU Capital closed SOTAN CHINA REAL ESTATE I, LP, in February 2011. It is a club of prestigious
institutional investors, in a 50-50 partnership with SOCAM (“the Partnership”). The total Partnership value
is approximately US$400 million, with each party contributing US$200 million to the Partnership. The
innovative club structure with SOCAM co-investing 50% alongside the investors is unique in Asia and
provides a strong alignment of interests between the investors and SOCAM. The Partnership invests in
special-situation real estate projects in high-growth second tier cities in China, focusing mainly on
residential anchored mixed-use developments.
TAN-EU Capital acts as the fund manager for the
Partnership and SOCAM Asset Management Limited (HK), an affiliate of SOCAM acts as the asset
manager.
For more information, please contact Sandy Hong, TAN-EU Capital +852 3987 6788