BELLINGHAM, Wash., July 24, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. or "API" (Pink Sheets:ASPZ), today reported on property deals in Asia.
"API is pleased to be participating in the Asian property investment boom that is currently underway," said Asia Properties CEO Daniel McKinney. On July 18, 2007 Ryan Chittum, writing in The Wall Street Journal, quoted Jones Lang LaSalle, a Chicago based global commercial real estate firm, and stated that investment in the Asia-Pacific region was up 15% to US$55 billion in the first six months of this year from US$48 billion in the year-earlier period. With growth in the region strong and interest rates low, Jones Lang LaSalle sees investment interest in Asian properties remaining strong in the year's second half. As a result, McKinney added: "Asia Properties remains bullish and plans an aggressive acquisition program in Philippines resort sites over the next 6-12 months."
API is currently negotiating to acquire the majority of a tropical island and create a new tourist destination with four, five and six star resorts with major international hotel brands managing the resorts. Our planned acquisition in the Philippines, if successful, will be the largest investment and single most important transaction in the history of API.
About Asia Properties, Inc.
Asia Properties, Inc. was established to invest in resorts and prime real estate in Thailand and Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments, where investors can invest in Asian real estate and hold the investment in the form of a security trading on a U.S. securities market.
The Asia Properties, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=1733
For up-to-date corporate information about Asia Properties, Inc. contact Daniel McKinney at (360) 392-2841 or (http://www.asiaprop.com). For Phuket property inquiries contact: My Trusted House, email: thailand@mytrustedhouse.com. Tel +662-630-4795
Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.