The Tower Offices at Beijing Oriental Plaza Sample Clauses

The Tower Offices at Beijing Oriental Plaza. Consisting of eight towers, Xxx Xxxxx Xxxxxxx xx Xxxxxxx Xxxxxxxx Xxxxx offers over 300,000 square metres of Grade A office space. It generates a stable revenue stream from a diversified tenant base across different industries, ranging from finance and banking, accounting, technology, legal, pharmaceutical, media and advertising to consumer products; there are also education and professional institutions, and government-related organisations. Revenue of The Tower Offices was RMB627 million, up by 3.5% year-on-year. NPI amounted to RMB479 million, an increase of 5.1% year-on-year. Average monthly passing rent increased to RMB297 (2018: RMB292) per square metre. Average monthly spot rent was RMB336 (2018: RMB332) per square metre. Rental reversion was 9.5%. Occupancy rate was 94.0% (2018: 96.0%).
Sample 1
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The Tower Offices at Beijing Oriental Plaza. As business activity started to resume during H1 2021, Beijing’s office leasing momentum improved as compared to 2020. The city’s vacancy rate remained at a relatively high level of 17.5%1 in the second quarter of 2021. The continual influx of new supply is expected to continue to drive up overall vacancy and to exert downward pressure on overall average rental levels. The Tower Offices at Beijing Oriental Plaza consists of eight towers, offering over 300,000 square metres of Grade A office space. It has a diversified tenant base across different industries, including finance and banking, insurance, accounting, technology, legal, pharmaceutical, media and advertising, and consumer products. There are also educational and professional institutions, and government-related organisations. Revenue of The Tower Offices was RMB521 million (2020: RMB533 million). NPI amounted to RMB381 million (2020: RMB385 million). During H1 2021, average occupancy rate was improved to 86.5% (2020: 84.5%). Average monthly passing rent was RMB269 (2020: RMB288) per square metre. Average monthly spot rent was RMB270 (2020: RMB281) per square metre.
Sample 1

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