(Hong Kong, 24 January 2017) Emperor International Holdings Limited (“Emperor International”) (Stock Code: 163) today celebrated the coming 2017 Chinese New Year, in which the Group also made a review of its business performance in 2016 and a forecast for the year 2017. The event was attended by Dr. Albert Yeung, Chairman of Emperor Group; Mr. Donald Cheung, Executive Director of Emperor International; Mr. Alex Yeung, Corporate Executive of Emperor Group and representatives from various real estate agencies.
Mr. Donald Cheung, Executive Director of Emperor International, remarked during his speech, “Over the past year, thanks to the support of home buyers and our partners in the industry, Upton has already sold out all its 117 typical units and 5 of its duplex units, accumulating up to 122 sold-out units which has generated over HK4.2 billion in revenue. The results have been very satisfying.
We have been enhancing the proportion of our investment portfolio, and actively seek out acquisition opportunities that are livelihood-related. Last December, we successfully acquired one commercial and car park building and three car park buildings located at 5-19 and 6-12 Sui Wo Road, Shatin, New Territories. It has extended our property portfolio to regions other than first tier shopping and commercial districts. In January this year, we also purchased a total of 12 retail outlets located on G/F and LG/F, Fairview Height, 1 Seymour Road, Mid-Levels, Hong Kong. The Group's property portfolio has become more diversified and therefore lowering risk and increasing return during volatile market conditions.”
Mr. Cheung continued, “This year we will focus on the Fuk Wing Street redevelopment project in Sham Shui Po, which is our first project to co-operate with the Urban Renewal Authority. The total gross floor area is about 54,000 square feet and will be reconstructed into a 26-storey residential building, with more than 130 units. We will also launch the luxury residential project on Kwun Fat Street, Siu Lam, Tuen Mun to the market. The project, with a total gross floor area of approximately 40,000 square feet, will be developed into 14 low-rise houses, each with saleable area from 2,700 to 4,100 square feet. Each house has impeccable sea view and comes with a garden, a private pool and 2 parking spaces.
With regards to investment projects, construction work of Emperor Group Centre located on Chang'an Avenue, Beijing, has been successfully completed and a number of big name brands have been introduced as tenants. The building will become another landmark in the capital and generate substantial recurrent rental income as it opens later this year. The acquisition of Ampersand Building on Oxford Street, London, has also highly strengthened our presence in London. We are now in active search for other high quality overseas investment properties in order to broaden the rental income base and diversify our property portfolio geographically.
In addition, Emperor Hotel Group's flagship hotel located at 373 Queen’s Road East, Wanchai will be opened this mid-year, with a total gross floor area of 115,000 square feet. The 29-storey hotel has 300 guestrooms and offers leisure, dining and parking facilities. The project will be able to further enhance brand recognition in the Group’s hotel business."
During the event, Mr. Alex Yeung, Corporate Executive of Emperor Group also presented awards to property consultants who have secured substantial sale or lease transactions for the Group in the past year for their continuous support.