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HK-listed Shui On Land optimistic on rental income rise

A day after announcing plans to spin off its Xintiandi unit, Hong Kong-listed Shui On Land said it expected rental income to rise 17 percent to more than CNY1 billion (USD157.37 million).

Rental income would be boosted by the completion of 72,000 square metres of investment properties, including Chongqing Tiandi and Foshan Lingnan Tiandi, its annual report said last year.

The company’s first Xintiandi, a large, city-core redevelopment project, opened in 2001 in Shanghai. The retail entertainment landmark in the city centre drew up to 70,000 visitors per day during the 2010 World Expo in Shanghai and averages 50,000 daily visitors normally.

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(Source: scmp.com)