Property Acquisitions & Leasing Management

Aim: Long Term Investment Plans

In mid-2005, the Group established its long-term investment plans, in which the board resolved to acquire commercial buildings with tenancies. The Group then injected resources, time and good management to the project; by selecting suitable tenants to lease the premises, the commercial building was transformed into a building with a specific theme.

In the year 2005, the Group successfully acquired The Lamma Tower, which is situated in Tsim Sha Tsui with the estimated size of around 27,000 sq.ft. The Group effectively turned the building into a building with "Beauty Theme". It is the well-known "The Lamma Beauty Tower" in Tsim Sha Tsui area.

The pedestrianisation schemes as proposed by the HKSAR Government in Tsim Sha Tsui area included the Hau Fook Street, arose the demand in opening bar and pub businesses in this area. Hence, The Lamma Tower has leased some units to perspective tenants to operate as high ranked bar and pub business in the building to add values to the building .

At the end of the 2005, the Group subsequently purchased another commercial building at Jordan area with the estimated size of 25,000 sq.ft. The Group later changed the building name to "The Lamma Centre". The Group was successfully invited targeted tenants to lease the premises in order to gradually transform the building with an "Educational" theme.

In the 2006, the Group again, successfully acquired a relatively new commercial building. The newly acquired building is situated at well-known Nathan Road in Kowloon with the estimated size of 47,000 sq. ft. The Group has planned to turn the building into an "Art and Educational" theme. There are two main entrances, one is to gain access to the main office area and the other one is to the so-called "The Lamma Concept Building" with 3 storeys with the estimated total size of 10,000+ sq. ft.