The Group has an effective interest of 76.0% in the Teem Plaza in Guangzhou and the Tianjin Teem Shopping Mall project.

Teem Plaza

The Teem Plaza, comprising of a shopping mall, an office building and a hotel, is held by 廣東天河城(集團)股份有限公司 (Guangdong Teem (Holdings) Limited) ("Guangdong Teem").

The Teemall is situated in the premier area of Guangzhou and is one of the most popular shopping malls in the area. The mall has a total gross floor area and lettable area of approximately 160,000 square metres and 97,000 square metres, respectively. The mall maintained a high average occupancy rate of approximately 99% during the year 2009 (2008: 99%) and is successful in retaining existing brand-name tenants and attracting new ones.

The East Tower, Teem Tower (粤海天河城大廈), is a 45-storey A-class office tower, with a total gross floor area and lettable area of approximately 102,000 square metres and 90,000 square metres, respectively. The occupancy rate as at 31 December 2009 was 87% (2008: 80%).

The West Tower, which is expected to be completed in early 2010, will be a 5-star hotel with approximately 450 hotel rooms. The Group has engaged Sheraton Overseas Management Corporation, a renowned international hotel management company, to operate, manage and promote the hotel under the name of Sheraton Guangzhou Hotel (粤海喜來登酒店) for an initial 10-year term.

Tianjin Teem Shopping Mall

During 2009, the Guangdong Teem Group acquired a piece of land in Tianjin. The land will be developed into a large-scale modern shopping mall. The planned shopping mall which will have a total gross floor area above ground and underground of approximately 137,100 square metres and 56,000 square metres, respectively is scheduled for completion in 2013.

Guangdong Investment Tower

Guangdong Investment Tower is a 28-storey commercial building and office tower located on Connaught Road Central, Hong Kong. The Group holds a total floor space of approximately 14,132 square metres in this tower with an average occupancy rate in 2009 of 96.5% (2008: 100%).