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SOHO China

For other uses, see Soho (disambiguation).
SOHO China
SOHO中国
Company typePublic
SEHK: 410
ISINKYG826001003 Edit this on Wikidata
IndustryReal estate
Founded1995
FounderPan Shiyi
Zhang Xin
HeadquartersBeijing, People's Republic of China (de facto)
Cayman Islands (Incorporated Office)
Area served
People's Republic of China
Key people
Pan Shiyi (Chairman)
Zhang Xin (CEO)
RevenueIncrease RMB2.191 Billion (Fiscal Year Ended 31 December 2020)[1]
Decrease RMB1.600 Billion (Fiscal Year Ended 31 December 2020)[1]
Decrease RMB543.466 Million (Fiscal Year Ended 31 December 2020)[1]
Total assetsIncrease RMB70.704 Billion (Fiscal Year Ended 31 December 2020)[1]
Total equityIncrease RMB37.547 Billion (Fiscal Year Ended 31 December 2020)[1]
Websitewww.sohochina.com

SOHO China is a Chinese building developer, primarily in the office and commercial sector, with some residential and mixed-use properties in its portfolio. The company, which uses the name "SOHO" in both English and Chinese contexts, was founded in 1995 by Chairman Pan Shiyi (潘石屹) and CEO Zhang Xin (张欣).[2] The name SOHO comes from the phrase "Smart Office, Home Office" as the company decided to combine office rooms and residential apartments in the same building to facilitate a comfortable and productive environment.[3]

SOHO China focuses on developing properties in the central business districts of Beijing and Shanghai. SOHO China developments are known for their modern architecture, with designs from figures such as Iraqi architect Zaha Hadid,[4] and Japanese architect Kengo Kuma.[5] The company has developed over five million square meters of commercial properties.[6] Many of its buildings have won awards and other recognition for their design.[7][8][9][10]

Fortune has described SOHO China as "one of the country's most high-profile real estate firms",[4] and The New York Times has described the company as China's only pure prime office developer.[11][12] Having shifted from a "build to sell" to "build to hold" strategy in 2012,[13][14][15] the company now holds 1.4 million square meters of office space in Beijing and Shanghai for long-term investment.[16][17][18] Although the company has sold several properties in the late 2010s, Pan Shiyi has said that "Soho will continue to hold and operate its core assets in Beijing and Shanghai".[15] Pan also noted in 2016 that the transition to "build to hold" was requiring the company to endure some difficult times,[15] but by the following year rental income had increased by 44%, contributing to a 69% increase in annual net profits for the company.[19]

In June 2021, Pan and Zhang struck a deal to sell a controlling stake to Blackstone for $3 billion.[20]

  1. ^ a b c d e "SOHO China Group 2020 Annual Report" (PDF). SOHO. 31 December 2020. Retrieved 26 August 2021.
  2. ^ Bei, Hu (January 14, 2007). "Soho China revives IPO plan". International Herald Tribune (Bloomburg). Retrieved 2008-05-07.
  3. ^ "Zhang Xin speaks on modern design, culture, and architecture". Council on East Asian Studies at the MacMillan Center at Yale University. Retrieved 15 May 2018.
  4. ^ a b "Meet the women transforming Beijing's skyline". 25 September 2014. Retrieved 2018-05-15.
  5. ^ "Kengo Kuma creates a pleated aluminum mesh façade for Shanghai office tower". 16 July 2016. Retrieved 2018-05-15.
  6. ^ "Zhang Xin: The Woman Who Built Beijing". 11 August 2017. Retrieved 2018-05-15.
  7. ^ Cite error: The named reference AR Award was invoked but never defined (see the help page).
  8. ^ Cite error: The named reference Betsky was invoked but never defined (see the help page).
  9. ^ Cite error: The named reference Emporis was invoked but never defined (see the help page).
  10. ^ Cite error: The named reference Tall was invoked but never defined (see the help page).
  11. ^ "Developer Is China's Latest Hot Stock Offering". The New York Times. Retrieved 15 Mar 2015.
  12. ^ "Zhang Xin & family". Forbes. Retrieved 22 Mar 2018.
  13. ^ "Beijing Billionaire Couple's Real Estate Developer Soho China Says 1st-Half Profit Soared". Forbes. Retrieved 2018-05-15.
  14. ^ "Who Says China is Building Too Much?". The Wall Street Journal. Retrieved 2018-05-15.
  15. ^ a b c Zheng, Yangpeng (17 August 2016). "Soho China to sell three more non-core sites, all in Shanghai". South China Morning Post.
  16. ^ "SOHO plans spinoff of co-working division". Retrieved 2018-05-09.
  17. ^ "Zaha Hadid Architects Unveil Photographs of "World's Tallest Atrium" Under Construction in Beijing". ArchDaily. Retrieved 2018-05-15.
  18. ^ "Zhang Xin: The woman who built Beijing". CNBC. Retrieved 2018-05-15.
  19. ^ Lo, Jennifer (March 23, 2017). "Soho China shares climb 7% on robust office leasing". Nikkei Asian Review.
  20. ^ Zhong, Raymond (2021-06-17). "As China Scrutinizes Its Entrepreneurs, a Power Couple Cashes Out". The New York Times. ISSN 0362-4331. Retrieved 2021-06-18.
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