The Group holds an effective interest of 76.13% in 廣東天河城(集團)股份有限公司 (Guangdong Teem (Holdings) Limited*) (“GD Teem”), the property owner of Teem Plaza. Teem Plaza comprises a shopping mall, an office building and a hotel. The shopping mall and the office building are held for investment purposes by the Group.
The shopping mall, known as Teemall, is one of the most popular shopping malls in the prime area of Guangzhou and it has a total gross floor area of approximately 160,000 square metres, of which 106,000 square metres is held for rental purposes. The mall is successful in retaining existing brand-name tenants and attracting new ones.
The office building, known as Teem Tower, is a 45-storey Grade A office tower with a total gross floor area of approximately 102,000 square metres, of which 90,000 square metres is held for rental purposes.
For information on the Sheraton Guangzhou Hotel, please refer to the section under "Hotel Operation and Management".
Tianjin Teem Shopping Mall
The Group holds an effective interest of 76.02% in Tianjin Teem Shopping Center Co., Ltd., the property owner of Tianjin Teem Shopping Mall. Tianjin Teem Shopping Mall, with a total gross floor area of approximately 205,000 square metres, of which 140,000 square metres is held for rental purposes, is situated at a convenient location above underground railroads and is one of the leading shopping and leisure destinations in the renowned “Binjiang Dao – Heping Road” Commercial District in Tianjin. Tianjin Teem Shopping Mall opened in June 2017.
Panyu Wanbo CBD Project
The Group's effective interest in 廣州市萬亞投資管理有限公司 (Guangzhou City Wanye Investment Management Company Limited*) ("Wanye") is 31.06%. 廣州天河城投資有限公司 (Guangzhou Tianhecheng Investment Co., Ltd.*), a 60%-owned subsidiary of GDTeem, directly holds a 68% interest in Wanye.
Wanye owns a parcel of land in 番禺萬博中央商務區 (Panyu Wanbo Central Business District), which is designated to be a new commercial area in Guangzhou. Based on the Group’s current development plan, this parcel of land is being developed into a large-scale integrated commercial project with a total gross floor area of approximately 385,000 square metres of which properties with gross floor area of approximately 152,000 square metres and 104,000 square metres will be held for sale and for rental purposes, respectively, upon their completion.
Guangdong Investment Tower
Guangdong Investment Tower is a 28-storey commercial building, which includes offices and a shop, located on Connaught Road Central, Hong Kong. The Group holds a total floor space of approximately 14,132 square metres in this building.
* For identification purpose only