Thomas Kwok - Vice Chairman & Managing Director of Sun Hung Kai Properties


Good morning everyone and thank you for coming today.

I am very pleased to welcome our esteemed government officials, distinguished guests and members of the press to the ribbon-cutting ceremony for the Ritz-Carlton Shanghai, Pudong, at Shanghai IFC. This is a world-class landmark development by Sun Hung Kai Properties and yet another milestone following the recent opening of the new HSBC China head office and the shopping mall in the first phase of Shanghai IFC.

Shanghai IFC is our key integrated development on the mainland, ideally located in the heart of the Pudong finance and trade zone. It has a total gross floor area of over 370,000 square metres and includes two grade-A office towers, international retailers in the Shanghai IFC Mall, the deluxe IFC Residence serviced suite hotel and the new Ritz-Carlton Shanghai, Pudong we are opening today. The development combines business, leisure, entertainment and residential space and will further enhance the image of Shanghai as an international metropolis.

Shanghai IFC office leasing has been very promising, with the phase one office space almost fully let. The second phase offices have just gone on the market and interest is running high among international and mainland corporations. Shanghai IFC Mall is another success, attracting a host of international retailers making their mainland or Shanghai debuts.

The Ritz-Carlton Shanghai, Pudong occupies the top 18 floors of Shanghai IFC phase one, and has 285 luxury guest rooms and suites with spectacular views of the Bund. The contemporary design of the guest rooms complements the historic architecture of Shanghai, and Ritz-Carlton's signature leisure and business amenities and world-class dining choices offer unrivalled hospitality.

Ritz-Carlton is a famous name in luxury hotels, and its establishments around the globe are recognized for unmatched quality. We are very pleased to have the Ritz-Carlton group managing our first hotel development on the mainland, and we have great confidence in the future of the hotel. Yet another Ritz-Carlton hotel is slated to open by the end of this year back in Hong Kong at the prestigious International Commerce Centre, and the partnership between our two organizations will continue to provide the highest standards of hotel service.

On behalf of the Sun Hung Kai Properties, I would like to offer my heartfelt thanks to everyone who participated in the consultation, planning and building of this project. And again, it is a great honour to have all of you here for today's ceremony. Thank you!

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