HONG KONG, Oct. 8 /Xinhua-PRNewswire-FirstCall/ -- Physical Property Holdings Inc. (OTC Bulletin Board: PPYH) announced today that according to a recent valuation report prepared by DTZ Debenham Tie Leung Limited, an independent property valuer, on the market values of The Metropolis Residence for Dah Sing Bank Limited, the current market values of the 5 residential units acquired by the Company in The Metropolis Residence have increased over 30% since inception with an average return on investment of approximately 6% per annum.
"These 5 residential units in The Metropolis Residence were our first acquisition. We will continue to implement our acquisition strategy to focus on medium and small size premium properties in the major cities of Greater China," asserted Mr. Ngai Keung Luk, Chairman and CEO of Physical Property Holdings Inc. "We'll continue to look at and explore new real estate development projects in the major cities in China, including but not limited to Beijing, Shanghai, Shenzhen, and Hong Kong, with good potential asset value appreciation which can also provide us with a stable recurring rental income."
About Physical Property Holdings Inc.
Physical Property Holdings Inc. is a comprehensive real estate management and investment service group, focusing on the real estate market in the Greater China region. We are presently building a website at physicalproperty-ppyh.com for more detailed information of the Company, the selected property markets, and our recent development.
Safe Harbor
Information in this news release or on this website may contain statements about future expectations, plans, prospects or performance of Physical Property Holdings Inc. that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Physical Property Holdings Inc. cautions you that any forward-looking information provided by or on behalf of Physical Property Holdings Inc. is not a guarantee of future performance. None of the information on this website constitutes an offer to sell securities or investment advice of any kind, and visitors should not base their investment decisions on information contained in this website. Physical Property Holdings Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Physical Property Holdings Inc.'s control. In addition to those discussed in Physical Property Holdings Inc.'s press releases, public filings, and statements by Physical Property Holdings Inc.'s management, including, but not limited to, Physical Property Holdings Inc.'s estimate of the sufficiency of its existing capital resources, Physical Property Holdings Inc.'s ability to raise additional capital to fund future operations, Physical Property Holdings Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match Physical Property Holdings Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Physical Property Holdings Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
For more information, please contact:
Investors Relation Officer
Tel: +852-2917-0110
Fax: +852-2890-9484
Email: property@physical.com.hk
