Business
Business Update
Business Update.
About this update from Creo Medical Group Plc
[{"type":"text","content":"\n RNS Number : 4604H China Real Estate Opportunities Ltd 05 November 2008 \n5 November 2008 \n\nChina Real Estate Opportunities Limited\n\nBusiness Update\n\nChina Real Estate Opportunities (\"CREO\" or the \"Company\"), an AIM listed property company with an established investment and development property portfolio in China, today provides an update on the Company's trading since 1 July 2008.\n \n\n Investment Highlights:\nStrong Income Producing Portfolio Continues to Outperform\n\nCREO's income producing assets, which represent 75% of the Company's total portfolio, have continued to perform strongly in the third quarter. Three year rollover on leases, which is standard practice in China, has enabled the Company to continue to drive income growth in the short to medium term.\n\n\n\nOffice: CREO achieved between 10% to 50% rental income growth from lease renewals and new leases since 1 July 2008.\n\n\n\n\n\nOccupancy rates in the investment assets remain strong:\n\n\nCentral Plaza: 92% \n\n\nCity Center: 95% \n\n\nTreasury Building: 97% \n\n\n\n\n\n\n\nRetail: CREO has completed 21 lease renewals and new leases since 1 July 2008, and has achieved up to 40% increase in rents on individual transactions and an average of over 16% growth from letting transactions in the period. \n\n\n\n\nDevelopment Highlights: \nCREO's development programme continued to make progress throughout the period\n\n\n\nBeijing Logistics Park: construction is due to commence in November 2008. Completion of this development project is expected in 2009, and the Company has already received strong leasing enquiries.\n\n\n\n\n\nCentral Plaza: office tower refurbishment work is on schedule for completion before the end of 2008 while the remainder of the refurbishment programme is on track for completion in 2009.\n\n\n\n\n\nCity Center: short-term refurbishment work will be completed in Q1 20...