TCT's property portfolio up 19.58% in 2011

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The real estate portfolio of Treasury China Trust hit RMB12.054 billion (S$2.486 billion) after accounting for the firm’s 55 percent share in Central Avenue Mall Qingdao, representing a 19.58 percent increase for the 12 months ending 31 December 2011.

“It is pleasing to witness continued independent validation of TCT’s portfolio and the strength of China’s commercial real estate sector,” said Richard David, Chief Executive Officer of TCT.

“In respect of the stabilised assets represented by The HQ, Central Plaza and Treasury Building, all located in Shanghai, the annual increase in valuation of 4.59 percent reflects the success of TCT’s leasing activities in 2011.”

The company’s strong results for the acquisitions made last year, such as Huai Hai Mall in Shanghai and Central Avenue Mall, show the value of the TCT management platform and its ability to identify and execute acquisitions at prices well below independent market valuation, said David.

He also noted that the valuations of the current development sites under construction – Beijing International Logistics Park and The HQ Extension in Shanghai – offer valuable insights into the progress made and the sustainability of values during the respective development programmes.

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