Soho China , the Beijing-based commercial developer, will shift its focus away from the capital to concentrate on Shanghai after its underlying profit leapt 324% last year to 1.69bn yuan (HK$1.92bn).
While the success came from sales growth all round, the company's first project in Shanghai, The Exchange, recorded encouragingly strong sales last year.
"Shanghai has more room for development, compared with Beijing. We will acquire more development projects in Shanghai this year," chairman Pan Shiyi said. "Our investment in Shanghai will exceed the investment amount in Beijing in future."
South China Morning Post