Demand for prime office space in Beijing and Shanghai drove Soho China’s strong sales and profit growth in the first half of 2014. Shanghai’s stature as an international financial center attracted overseas tenants.
Having completed its business model transition from build-and- sell to build-and-hold during 2013, Soho developed, leased and managed office space.
The company also upgraded is properties, improving air quality and energy efficiency.
Net income increased 29 percent to $437 million, in the first half of 2014, on an 84 percent leap in revenue to $770 million. For the full year 2013, net income fell 28 percent to $1.2 billion on a 7 percent revenue decline to $2.4 billion. Founded in 1995, Soho China is listed on the Hong Kong Stock Exchange.