Treasury China Trust, which listed on the Singapore main board in June of this year, announced that Central Plaza, a 22 level prime office and retail tower located in the heart of the Shanghai CBD, recently secured an 8 year extension for Nina's Sichuan Restaurant (‘蜀菜行家') at an 82% increase over the previous rent. This commitment by Nina's reinforces the property's recent transformation by TCT into a high quality office tower complemented by a unique 3 level food and beverage retail podium offering a wide-ranging spectrum of fashionable and innovative dining and entertainment experiences. 

Nina's, a tenant in the building since 2004, is a key renewal for Central Plaza's retail podium and reinforces the strong repositioning that has been achieved with the comprehensive refurbishment of the property completed in June of this year. CEO Richard David was clearly pleased with the latest positive news for this key asset, "The renewal of the lease for Nina's Sichuan Restaurant, brings the occupancy for Central Plaza's retail podium's to over 70% just 2 months after its market release and with ongoing strong enquiry we expect full occupancy to be achieved in the short term. This transaction further emphasizes the success of our refurbishment program and joins Waga's, Urban 18 and Shunfeng as quality food and beverage operators at Central Plaza. Of equal importance is Nina's commitment to reinvestment of over SGD1.2m for a high quality upgrade of their 675 sqm premises which will re-open in the Fall of this year."

Treasury China Trust owns a portfolio of quality Chinese office and retail assets totaling more than SGD1.9bn in value. Comprising 250,000sqm of income-producing commercial real estate in Shanghai and a further 150,000sqm currently under development in Shanghai and Beijing, TCT has previously announced its gross revenue is expected to double in the next 3 years and its proposed 2010 dividend represents an annualized return of more than 6.0% pa.