SHENYANG, China, Aug. 7, 2006 (PRIMEZONE) -- Great China International Holdings, Inc. (OTCBB:GCIH) today announced it has signed a 10-year lease with Starbucks Dalian, a subsidiary of Starbucks Corporation (Nasdaq:SBUX), to open a Starbucks cafe in the ground floor lobby of its landmark twin-tower President Building in Shenyang, China.
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The 2,150 square-foot cafe is the third Starbucks location in Shenyang and the first situated in a commercial office complex. Shenyang, with a population of approximately seven million, is located in Northeast China. The new Starbucks, which opened this week, is owned and operated directly by Starbucks Corporation in the U.S.
"Starbucks joins the 25 Fortune 500 companies that also are tenants of the 26-story President Building," said Zhiren (Paul) Deng, chief executive officer of Great China. "The opening reflects the current transformation of Shenyang into a first-tier city with modern international conveniences. We are happy to offer our tenants with such a quality, well regarded amenity."
About Great China International Holdings
Founded in 1989, Great China International Holdings' wholly owned subsidiary, Shenyang Maryland International Industry Co., Ltd., is one of the largest non-state-owned real estate developers in Northeast China. The company's core business is premium residential and commercial development and management. It currently owns and manages the President Building, which was completed in April 2002, with 25 tenants comprised of Fortune 500 companies, including General Electric (China) Co., Ltd., Johnson & Johnson, Kodak and Philip Morris. The company's prior developments included the Maryland Building, Roma Resort Garden, Qiyun New Village, Peacock Garden, University Campus of Shenyang Teacher's University, and Chenglong Garden, mostly located in Shenyang.
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