SOURCE: LT Commercial Real Estate Limited

LT Commercial Real Estate Limited

June 18, 2015 06:07 ET

LT Commercial Real Estate Tangshan Lerthai City to Open in 2016 as a One-Stop City Commercial Center to Meet All Needs of Living

Shopping Malls to Be Launched in Second Quarter of 2016 and Presale of Residential Properties Already Started in Second Quarter of 2015

HONG KONG, CHINA--(Marketwired - Jun 18, 2015) - LT Commercial Real Estate Limited ("LT Commercial" or the "Company") (HKSE: 00112) is pleased to announce that shopping malls of its large-scale commercial and residential complex project, Tangshan Lerthai City, are scheduled to be opened in the second quarter of 2016. The project is now soliciting for tenancy from various well-known domestic and international brands, including Hong Kong Broadway, AST Eurojoy Ice-skating Rink, CSI Bally Total Fitness, Baolongcang, GOME Electronic, Hai Di Lao Hot Pot, Grandma's Home, Parkson and Xiabu.

The first phase of Tangshan Lerthai project, which occupies a site area of approximately 157,000 square meters and has a gross floor area of 680,000 square meters, has called for a total investment of RMB4 billion. LT Commercial holds shopping malls there as investment properties which have a combined gross floor area of 180,000 square meters. Meanwhile, the residential portion has a gross floor area of 160,000 square meters, and the presale of the residential properties have commenced in the second quarter of 2015. The residential properties will be finished and delivered to buyers in 2016.

In the prime spot of the Fenghuang shopping district in Tangshan, Tangshan Lerthai City is situated east of Western Outer Ring Road and north of Xinxibei Road, and is positioned as a one-stop large-scale city commercial complex that comprises an international shopping center, a culture and entertainment center, a leisure and catering center, an international business center, a world-class deluxe integrated project of commercial and residential properties and a boutique apartment. The project aims to bring culture, catering, entertainment, leisure and shopping under one roof, allowing people to experience a multifaceted lifestyle and thus set the trend for urban living.

Mr. Yang Longfei, Chairman and Chief Executive Officer of LT Commercial, said, "We are pleased that Tangshan Lerthai City has been successfully completed and has come under the spotlight. LT Commercial has been accomplishing its corporate mission of "improving urban life with commercial properties for global businesses" and endeavouring to improve living at its commercial and residential properties. We hope that Tangshan Lerthai City will become a new landmark of Tangshan and will bring stable rental income and cash flow to the company."

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About LT Commercial Real Estate Limited
LT Commercial Real Estate Limited (HKSE: 00112) is a Hong Kong-listed company under China Lerthai Commercial Real Estate Group, with a focus on commercial real estate development and construction. Following the commencement of its overseas commercial property projects in the U.S., the Company has completed the "Lerthai City" project in Tangshan which is scheduled to be opened for business in the second quarter of 2016. On the other hand, contracts have been signed over the projects in Nanjing, Xingtai, Baoding and Handan, and the negotiations over projects in Changsha, Wuhan, Tianjin and Beijing are also proceeding smoothly. With a global strategic plan, the Company aspires to become a leader in the international commercial property sector. It aims to promote the development of urban economy and society and to improve the living standard of residents, thus realizing its vision of "improving urban life with commercial properties for global businesses."

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