Shama opens Second Property in Shanghai

Shama has strengthened its presence in Shanghai with the opening of its second property, the Shama Xujiahui. The Shama Xujiahui builds on the success of Shama's first building in the city, Shama Xintiandi, which opened in March last year.

Owned by Morgan Stanley Real Estate and designed by renowned interior specialists Indigo Living, Shama Xujiahui is a modern residential complex of 219 contemporary and chic apartments ranging from 96 to 225 square metres and catering to all tenants, from singles to families, with studio to two-bedroom layouts available; prices vary from RMB 22,000 to RMB 54,000 per month.

Each fully-furnished apartment features well equipped kitchenettes, customized "Shama Slumber" beds and the latest in high-tech gadgets: flat-screen TVs with an international selection of channels, DVD players, complimentary Wi-Fi internet access, and iPod docks.

Shama also provides tenants with luxury hotel services such as daily maid service, 24-hour security and concierge services, professional laundry and dry-cleaning facilities, a DVD library and Wii systems with games. The building has a fully equipped business centre with complimentary internet access. Tenants also have access to an in-house fitness centre.

Elaine Young, Shama's Chief Executive Officer praised the city's vibrant business climate, "As China's economy continues to expand, foreign investment will continue to flow into Shanghai and more multi-national corporations will establish regional offices here, resulting in an increasing need for expatriate accommodation. With the opening of Shama Xujiahui, Shama is now better positioned to take advantage of this growth."

Shama has an aggressive 2008 expansion plan. Shama will open its new property in Hong Kong, Shama Fortress Hill during Q2, in addition to its seven existing properties in the city. Shama will launch its first Beijing property, Shama Luxe Chang An, in March and its first Dalian property, Shama Luxe Grand Central, in Q4. By the end of the year, Shama will have a total portfolio of 1,165 apartments.

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