January 5, 2017 - China Merchants Land Limited ("China Merchants Land", stock code: 00978) and its subsidiaries announced its controlling shareholder, China Merchants Shekou Industrial Zone Holdings Co., Ltd. (招商局蛇口工業區控股股份有限公司) ("China Merchants Shekou") has completed the asset injection of CM+ Serviced Apartment, North Tower into China Merchants Land. The said transaction signifies the resolution of China Merchants Group and China Merchants Shekou to continue to expand and enhance their overseas listed platform. In the future, China Merchants Land will replicate the successful operation model of CM+ Serviced Apartment in various cities in China and overseas, with the aim to build a world-leading serviced apartment brand.
Resume asset injection, leveraging listed platform to integrate overseas assets
China Merchants Shekou resumed and accelerated asset injection activities, injecting its wholly-owned premium properties in Sheung Wan, Hong Kong - the north and south towers of CM+ Serviced Apartment into China Merchants Land, fully leveraging China Merchants Land's overseas listed platform to integrate its assets in Hong Kong to achieve mutual benefits. China Merchants Land will leverage its fund-raising abilities to provide funds to rejuvenate and explore the potential of China Merchants Shekou's existing overseas assets, creating values for both the domestic and overseas platforms.
Replicate CM+ serviced apartment, build CM+ brand
Opened in April 2016, CM+ Serviced Apartment, North Tower ("CM+ North Tower") is a brand new full harbour view boutique serviced apartment located in Hong Kong's commercial center on 16 Connaught Road West. With a good transport network, transport is very convenient: opposite Shun Tak Center Bus Terminus, CM+ North Tower is 3 minutes walk from Sheung Wan MTR station and Hong Kong-Macau Ferry Terminal, and about 30 minutes from the Hong Kong International Airport. With 33 storeys, CM+ North Tower offers 54 full harbour view deluxed studio rooms.
The project is named CM+, as CM is the abbreviation of China Merchants, while "+" means "plus" and "positive". The pronunciation of "+" in Mandarin and Cantonese is the same as "home". It is expected that guests staying at China Merchants's properties will increase their "positive energy", while also enjoying the feel-like home coziness. In the future, China Merchants Land will replicate the successful model of CM+ Serviced Apartment in various overseas cities. The Company is also committed to building CM+ as an internationally renowed serviced apartment brand through professional brand building and standards establishment.
About China Merchants Land Limited
China Merchants Land is a holding company with comprehensive capabilities of property development, operation and management. Its property portfolio spans across Guangzhou, Chongqing, Foshan, Nanjing and Xi'an. Currently, China Merchants Shekou indirectly owns a 74.35 per cent equity interest in the Company.
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