SOHO China

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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). 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. 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, and Japanese architect Kengo Kuma. The company has developed over five million square meters of commercial properties. Many of its buildings have won awards and other recognition for their design. Fortune has described SOHO China as "one of the country's most high-profile real estate firms", and The New York Times has described the company as China's only pure prime office developer. Having shifted from a "build to sell" to "build to hold" strategy in 2012, the company now holds 1.4 million square meters of office space in Beijing and Shanghai for long-term investment. 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". Pan also noted in 2016 that the transition to "build to hold" was requiring the company to endure some difficult times, but by the following year rental income had increased by 44%, contributing to a 69% increase in annual net profits for the company. In June 2021, Pan and Zhang struck a deal to sell a controlling stake to Blackstone...